Raymond James Trust N.A. lowered its position in Public Storage (NYSE:PSA) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,313 shares of the real estate investment trust’s stock after selling 78 shares during the period. Raymond James Trust N.A.’s holdings in Public Storage were worth $516,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. WFG Advisors LP increased its stake in shares of Public Storage by 0.6% in the second quarter. WFG Advisors LP now owns 520 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 3 shares during the period. Blue Chip Partners Inc. increased its stake in shares of Public Storage by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 596 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 4 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Public Storage by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 516 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 6 shares during the period. Bailard Inc. increased its stake in shares of Public Storage by 1.1% in the second quarter. Bailard Inc. now owns 942 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 10 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its stake in shares of Public Storage by 2.1% in the second quarter. Jaffetilchin Investment Partners LLC now owns 833 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.
Shares of Public Storage (NYSE:PSA) traded up 0.47% on Friday, reaching $205.73. 324,821 shares of the company’s stock were exchanged. Public Storage has a 12 month low of $200.65 and a 12 month high of $277.60. The company has a market capitalization of $35.68 billion, a P/E ratio of 31.51 and a beta of 0.47. The firm’s 50 day moving average price is $210.41 and its 200-day moving average price is $231.89.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $2.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $2.51. Public Storage had a net margin of 52.71% and a return on equity of 26.05%. The company earned $663.15 million during the quarter, compared to the consensus estimate of $624.13 million. During the same period in the prior year, the company earned $2.33 EPS. Public Storage’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that Public Storage will post $9.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Wednesday, December 14th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, December 12th. This is a positive change from Public Storage’s previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a yield of 3.89%. Public Storage’s dividend payout ratio is currently 110.43%.
A number of brokerages have recently commented on PSA. Jefferies Group lowered their price target on shares of Public Storage from $270.00 to $245.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Bank of America Corp. downgraded shares of Public Storage from a “buy” rating to a “neutral” rating in a report on Thursday, August 11th. Cantor Fitzgerald restated a “hold” rating on shares of Public Storage in a report on Thursday, October 27th. Goldman Sachs Group Inc. upgraded shares of Public Storage from a “sell” rating to a “neutral” rating and boosted their target price for the company from $210.00 to $220.00 in a report on Monday, October 31st. Finally, Barclays PLC restated a “hold” rating and issued a $230.00 target price on shares of Public Storage in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. Public Storage presently has an average rating of “Hold” and an average price target of $241.03.
In other news, Director Tamara Hughes Gustavson acquired 69,763 shares of Public Storage stock in a transaction on Friday, November 11th. The stock was bought at an average cost of $214.98 per share, with a total value of $14,997,649.74. Following the completion of the purchase, the director now owns 16,396,449 shares of the company’s stock, valued at $3,524,908,606.02. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $216.32, for a total transaction of $12,979,200.00. The disclosure for this sale can be found here. Company insiders own 14.20% of the company’s stock.
About Public Storage
Public Storage is a real estate investment trust. The Company’s business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.