Henderson Group PLC Sells 6,150 Shares of Public Storage (PSA)
Henderson Group PLC decreased its position in Public Storage (NYSE:PSA) by 22.4% during the second quarter, Holdings Channel reports. The fund owned 21,331 shares of the real estate investment trust’s stock after selling 6,150 shares during the period. Henderson Group PLC’s holdings in Public Storage were worth $5,450,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Public Storage by 1.1% in the first quarter. Legal & General Group Plc now owns 987,591 shares of the real estate investment trust’s stock worth $272,389,000 after buying an additional 10,276 shares in the last quarter. Resolution Capital Ltd bought a new position in shares of Public Storage during the second quarter worth about $11,908,000. Standard Life Investments LTD increased its position in shares of Public Storage by 7.7% in the second quarter. Standard Life Investments LTD now owns 114,129 shares of the real estate investment trust’s stock worth $29,161,000 after buying an additional 8,186 shares in the last quarter. A.R.T. Advisors LLC increased its position in shares of Public Storage by 76.0% in the first quarter. A.R.T. Advisors LLC now owns 9,030 shares of the real estate investment trust’s stock worth $2,490,000 after buying an additional 3,900 shares in the last quarter. Finally, WESPAC Advisors LLC increased its position in shares of Public Storage by 42.1% in the second quarter. WESPAC Advisors LLC now owns 5,263 shares of the real estate investment trust’s stock worth $1,345,000 after buying an additional 1,559 shares in the last quarter. Institutional investors own 77.99% of the company’s stock.
Public Storage (NYSE:PSA) traded up 0.33% during midday trading on Tuesday, hitting $215.83. 611,447 shares of the company traded hands. Public Storage has a 12-month low of $207.06 and a 12-month high of $277.60. The stock has a 50 day moving average price of $218.52 and a 200-day moving average price of $242.35. The company has a market cap of $37.43 billion, a PE ratio of 34.16 and a beta of 0.61.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $2.34 EPS for the quarter, missing the 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 business earned $634.20 million during the quarter, compared to the consensus estimate of $607.28 million. During the same quarter last year, the firm posted $2.17 earnings per share. Public Storage’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Public Storage will post $9.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 3.34%. The ex-dividend date was Monday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.92%.
A number of brokerages have recently issued reports on PSA. KeyCorp downgraded shares of Public Storage from a “sector weight” rating to an “underweight” rating and set a $230.00 price target for the company. in a report on Friday, July 15th. FBR & Co reiterated a “marketperform” rating and issued a $250.00 price target on shares of Public Storage in a report on Wednesday, June 22nd. Bank of America Corp. downgraded shares of Public Storage from a “buy” rating to a “neutral” rating in a report on Thursday, August 11th. Jefferies Group cut 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. Finally, Cantor Fitzgerald reiterated a “hold” rating on shares of Public Storage in a report on Friday, August 26th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $244.38.
In other Public Storage news, insider John Reyes sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $215.41, for a total value of $6,462,300.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 14.20% of the stock is currently owned by company insiders.
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.
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