Wagner Bowman Management Corp Has $255,000 Stake in Public Storage (PSA)
Wagner Bowman Management Corp maintained its position in Public Storage (NYSE:PSA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,000 shares of the real estate investment trust’s stock at the end of the second quarter. Wagner Bowman Management Corp’s holdings in Public Storage were worth $255,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Public Storage during the fourth quarter worth approximately $81,055,000. Sigma Planning Corp increased its position in Public Storage by 2.2% in the first quarter. Sigma Planning Corp now owns 1,445 shares of the real estate investment trust’s stock worth $399,000 after buying an additional 31 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Public Storage during the first quarter worth approximately $1,347,000. Telemus Capital LLC bought a new position in Public Storage during the first quarter worth approximately $1,655,000. Finally, Commonwealth Equity Services Inc increased its position in Public Storage by 10.8% in the first quarter. Commonwealth Equity Services Inc now owns 16,488 shares of the real estate investment trust’s stock worth $4,548,000 after buying an additional 1,610 shares in the last quarter. 77.98% of the stock is owned by institutional investors.
Public Storage (NYSE:PSA) traded up 0.32% during trading on Wednesday, hitting $217.53. The stock had a trading volume of 794,897 shares. The company’s 50-day moving average is $224.63 and its 200 day moving average is $248.55. The firm has a market cap of $37.72 billion, a PE ratio of 34.42 and a beta of 0.68. Public Storage has a 52 week low of $204.63 and a 52 week high of $277.60.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $2.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.40 by $0.06. Public Storage had a return on equity of 25.44% and a net margin of 52.53%. The firm had revenue of $634.20 million for the quarter, compared to analysts’ expectations of $607.28 million. During the same period last year, the business earned $2.17 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts expect that Public Storage will post $9.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Monday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.92%.
PSA has been the subject of a number of research analyst reports. FBR & Co initiated coverage on shares of Public Storage in a research note on Thursday, June 23rd. They set a “market perform” rating and a $250.00 price objective for the company. KeyCorp downgraded shares of Public Storage from a “sector weight” rating to an “underweight” rating and set a $230.00 price objective for the company. in a research note on Friday, July 15th. Jefferies Group dropped their price objective on shares of Public Storage from $270.00 to $245.00 and set a “hold” rating for the company in a research note on Wednesday, August 10th. Bank of America Corp. downgraded shares of Public Storage from a “buy” rating to a “neutral” rating in a research note on Thursday, August 11th. Finally, Evercore ISI upgraded Public Storage from a “sell” rating to a “hold” rating and set a $228.00 target price for the company in a report on Monday, August 22nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $243.24.
In other news, insider John Reyes sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $215.41, for a total transaction of $6,462,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.20% of the company’s stock.
Public Storage Company Profile
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.
Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA).
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.