Traders Sell Shares of Public Storage (PSA) on Strength (PSA)
Investors sold shares of Public Storage (NYSE:PSA) on strength during trading on Friday. $32.06 million flowed into the stock on the tick-up and $56.80 million flowed out of the stock on the tick-down, for a money net flow of $24.74 million out of the stock. Of all companies tracked, Public Storage had the 0th highest net out-flow for the day. Public Storage traded up $2.09 for the day and closed at $253.74
A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “hold” rating on shares of Public Storage in a report on Sunday, May 22nd. Vetr upgraded shares of Public Storage from a “sell” rating to a “hold” rating and set a $239.50 target price for the company in a research report on Monday, May 2nd. Barclays PLC boosted their target price on shares of Public Storage from $251.00 to $253.00 and gave the company an “equal weight” rating in a research report on Monday, May 2nd. Citigroup Inc. boosted their target price on shares of Public Storage from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, May 13th. Finally, Zacks Investment Research downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $240.35.
The stock’s 50 day moving average is $250.16 and its 200 day moving average is $254.59. The firm has a market capitalization of $43.99 billion and a P/E ratio of 40.74.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $2.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by $0.09. The business had revenue of $611 million for the quarter, compared to the consensus estimate of $585.73 million. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Public Storage will post $9.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a dividend of $1.80 per share. This is a boost from Public Storage’s previous quarterly dividend of $1.70. This represents a $7.20 annualized dividend and a yield of 2.84%. The ex-dividend date was Monday, June 13th.
In other Public Storage news, Director B Wayne Hughes, Jr. acquired 22,100 shares of the stock in a transaction on Wednesday, June 8th. The shares were bought at an average cost of $252.42 per share, with a total value of $5,578,482.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of hedge funds and institutional investors have modified their holdings of the company. GAM Holding AG increased its position in shares of Public Storage by 30.7% in the fourth quarter. GAM Holding AG now owns 15,520 shares of the real estate investment trust’s stock valued at $3,844,000 after buying an additional 3,642 shares during the last quarter. BOKF NA boosted its stake in Public Storage by 4.1% in the fourth quarter. BOKF NA now owns 12,909 shares of the real estate investment trust’s stock valued at $3,197,000 after buying an additional 513 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Public Storage by 1.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,616 shares of the real estate investment trust’s stock valued at $2,382,000 after buying an additional 170 shares during the period. BP PLC purchased a new stake in Public Storage during the fourth quarter valued at approximately $4,211,000. Finally, Twin Capital Management Inc. boosted its stake in Public Storage by 0.6% in the fourth quarter. Twin Capital Management Inc. now owns 15,690 shares of the real estate investment trust’s stock valued at $3,886,000 after buying an additional 100 shares during the period.
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.
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