Aspiriant LLC Has $211,000 Stake in Public Storage (PSA)
Aspiriant LLC maintained its position in Public Storage (NYSE:PSA) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,014 shares of the real estate investment trust’s stock at the end of the second quarter. Aspiriant LLC’s holdings in Public Storage were worth $211,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its position in Public Storage by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,932 shares of the real estate investment trust’s stock worth $805,000 after buying an additional 154 shares during the last quarter. Concorde Asset Management LLC boosted its stake in Public Storage by 243.8% in the first quarter. Concorde Asset Management LLC now owns 2,503 shares of the real estate investment trust’s stock valued at $551,000 after buying an additional 1,775 shares in the last quarter. Patriot Wealth Management Inc. boosted its stake in Public Storage by 3.1% in the first quarter. Patriot Wealth Management Inc. now owns 36,739 shares of the real estate investment trust’s stock valued at $8,043,000 after buying an additional 1,100 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Public Storage by 2.1% in the first quarter. Nationwide Fund Advisors now owns 109,985 shares of the real estate investment trust’s stock valued at $24,077,000 after buying an additional 2,224 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its stake in Public Storage by 26.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,980 shares of the real estate investment trust’s stock valued at $2,404,000 after buying an additional 2,312 shares in the last quarter. 78.47% of the stock is currently owned by institutional investors and hedge funds.
Public Storage (NYSE:PSA) opened at 197.73 on Friday. Public Storage has a 52-week low of $192.15 and a 52-week high of $233.39. The stock’s 50 day moving average is $204.43 and its 200 day moving average is $214.62. The company has a market cap of $34.41 billion, a price-to-earnings ratio of 28.21 and a beta of 0.41.
Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the consensus estimate of $2.54 by $0.95. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $626.27 million. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $2.40 earnings per share. On average, analysts predict that Public Storage will post $7.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.05%. Public Storage’s payout ratio is presently 113.96%.
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Several analysts recently issued reports on the stock. Argus cut their price target on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, August 1st. BidaskClub cut shares of Public Storage from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Bank of America Corporation cut their price target on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a report on Thursday, July 20th. Barclays PLC cut their price target on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Finally, Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Public Storage currently has a consensus rating of “Hold” and an average price target of $221.64.
In related news, Director Ronald P. Spogli acquired 2,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $200.59 per share, with a total value of $401,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by company insiders.
About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal 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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