Metropolitan Life Insurance Co NY reduced its stake in Public Storage (NYSE:PSA) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,941 shares of the real estate investment trust’s stock after selling 1,135 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Public Storage were worth $7,827,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PSA. Sage Capital Advisors llc purchased a new position in Public Storage in the fourth quarter valued at about $29,000. Oregon Public Employees Retirement Fund boosted its stake in Public Storage by 18,823.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 7,142,148 shares during the last quarter. Aspire Private Capital LLC boosted its stake in Public Storage by 232.0% in the first quarter. Aspire Private Capital LLC now owns 166 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Liberty Wealth Management LLC purchased a new position in Public Storage in the fourth quarter valued at about $37,000. Finally, Cornerstone Advisors Inc. boosted its stake in Public Storage by 42.3% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 60 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on PSA shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of COMPASS GRP PLC/S in a research note on Tuesday, April 9th. Argus boosted their target price on shares of Public Storage to $240.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the stock a “buy” rating in a research note on Tuesday, April 16th. ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $143.00 price objective on shares of Microsoft in a research note on Tuesday, June 11th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Public Storage has an average rating of “Hold” and an average price target of $218.22.
Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.79). The business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $685.75 million. Public Storage had a return on equity of 34.73% and a net margin of 62.54%. Public Storage’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 EPS. On average, analysts predict that Public Storage will post 10.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Tuesday, June 11th. Public Storage’s dividend payout ratio is presently 75.76%.
Public Storage Company Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
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