Public Storage $PSA Stock Bought by XML Financial LLC

XML Financial LLC raised its stake in shares of Public Storage (NYSE:PSA) by 71.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,792 shares of the real estate investment trust’s stock after purchasing an additional 2,821 shares during the period. XML Financial LLC’s holdings in Public Storage were worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSA. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Public Storage by 2.0% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 328,055 shares of the real estate investment trust’s stock valued at $92,949,000 after buying an additional 6,501 shares during the period. Columbia Bank boosted its stake in Public Storage by 4.9% during the third quarter. Columbia Bank now owns 7,989 shares of the real estate investment trust’s stock worth $2,260,000 after buying an additional 370 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Public Storage by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 817,245 shares of the real estate investment trust’s stock worth $231,150,000 after buying an additional 11,074 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Public Storage during the third quarter worth $12,827,000. Finally, Profund Advisors LLC increased its position in Public Storage by 42.8% during the third quarter. Profund Advisors LLC now owns 2,671 shares of the real estate investment trust’s stock valued at $755,000 after acquiring an additional 800 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSA. Royal Bank Of Canada increased their target price on shares of Public Storage from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 28th. UBS Group restated a “neutral” rating on shares of Public Storage in a report on Tuesday, October 27th. Evercore set a $308.00 price target on shares of Public Storage in a research note on Monday, September 21st. Raymond James Financial initiated coverage on shares of Public Storage in a report on Thursday, July 16th. They set a “market perform” rating on the stock. Finally, Weiss Ratings lowered shares of Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $323.68.

Public Storage Trading Down 0.1%

Shares of NYSE PSA opened at $333.06 on Wednesday. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The firm has a market cap of $62.23 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89. The business has a fifty day simple moving average of $299.22 and a two-hundred day simple moving average of $303.28. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.16.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. Public Storage’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.31 EPS. Analysts expect that Public Storage will post 16.97 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, December 15th. Public Storage’s dividend payout ratio is presently 125.65%.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.