Investors Sell Shares of Public Storage (PSA) on Strength (PSA)
Investors sold shares of Public Storage (NYSE:PSA) on strength during trading on Wednesday. $31.75 million flowed into the stock on the tick-up and $43.76 million flowed out of the stock on the tick-down, for a money net flow of $12.01 million out of the stock. Of all stocks tracked, Public Storage had the 0th highest net out-flow for the day. Public Storage traded up $0.36 for the day and closed at $227.90
Several analysts have issued reports on PSA shares. Goldman Sachs Group Inc. lowered shares of Public Storage from a “neutral” rating to a “sell” rating and set a $244.00 price target on the stock. in a research report on Monday, April 25th. Vetr downgraded shares of Public Storage from a “hold” rating to a “sell” rating and set a $239.50 price objective for the company. in a report on Monday, April 25th. FBR & Co reaffirmed a “marketperform” rating and set a $250.00 price objective on shares of Public Storage in a report on Wednesday, June 22nd. Zacks Investment Research downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Royal Bank Of Canada raised their price objective on shares of Public Storage from $235.00 to $243.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 11th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $241.10.
The company has a 50 day moving average of $244.74 and a 200 day moving average of $252.87. The firm has a market capitalization of $39.52 billion and a P/E ratio of 36.07.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $2.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by $0.06. During the same quarter in the previous year, the business earned $2.17 EPS. The company had revenue of $634.20 million for the quarter, compared to analyst estimates of $607.28 million. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Public Storage will post $9.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, September 14th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Monday, September 12th. This represents a $7.20 annualized dividend and a dividend yield of 3.16%.
In other Public Storage news, Director B Wayne Hughes, Jr. purchased 22,100 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The shares were acquired at an average cost of $252.42 per share, for a total transaction of $5,578,482.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Other large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Public Storage by 128.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,040 shares of the real estate investment trust’s stock worth $1,001,000 after buying an additional 2,272 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Public Storage during the fourth quarter worth about $2,180,000. Advisors Asset Management Inc. increased its stake in shares of Public Storage by 41.0% in the fourth quarter. Advisors Asset Management Inc. now owns 14,291 shares of the real estate investment trust’s stock worth $3,540,000 after buying an additional 4,157 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of Public Storage by 2.6% in the fourth quarter. I.G. Investment Management LTD. now owns 18,451 shares of the real estate investment trust’s stock worth $4,570,000 after buying an additional 474 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Public Storage by 6.1% in the fourth quarter. KBC Group NV now owns 45,615 shares of the real estate investment trust’s stock worth $11,299,000 after buying an additional 2,640 shares during the last quarter.
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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