Stephens Inc. AR Has $3.22 Million Position in Public Storage (PSA)
Stephens Inc. AR boosted its holdings in Public Storage (NYSE:PSA) by 824.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,454 shares of the real estate investment trust’s stock after purchasing an additional 13,782 shares during the quarter. Stephens Inc. AR’s holdings in Public Storage were worth $3,223,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new position in Public Storage in the first quarter valued at $100,000. Bessemer Group Inc. acquired a new position in Public Storage in the second quarter valued at $105,000. Northwestern Mutual Wealth Management Co. increased its stake in Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 75 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 5 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in Public Storage by 41.3% in the second quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.
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In other news, Director Ronald P. Spogli bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.42% of the stock is owned by company insiders.
PSA has been the subject of several analyst reports. Argus dropped their target price on Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, August 1st. Barclays PLC dropped their target price on Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $222.00 target price on shares of Public Storage in a research note on Friday, July 14th. Finally, Bank of America Corporation dropped their target price on Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $216.00.
Public Storage (PSA) traded up 0.11% during midday trading on Wednesday, reaching $207.81. The company’s stock had a trading volume of 38,134 shares. Public Storage has a 12 month low of $192.15 and a 12 month high of $232.21. The stock’s 50-day moving average price is $204.03 and its 200-day moving average price is $213.05. The firm has a market capitalization of $36.16 billion, a price-to-earnings ratio of 29.64 and a beta of 0.42.
Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.95). The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $626.27 million. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. Analysts predict that Public Storage will post $7.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.96%.
Public Storage Profile
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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