Federated Hermes Inc. Sells 25,041 Shares of Public Storage $PSA

Federated Hermes Inc. lowered its stake in Public Storage (NYSE:PSA) by 21.7% in the third quarter, HoldingsChannel.com reports. The firm owned 90,277 shares of the real estate investment trust’s stock after selling 25,041 shares during the quarter. Federated Hermes Inc.’s holdings in Public Storage were worth $26,077,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PSA. Harbor Asset Planning Inc. bought a new stake in Public Storage during the 2nd quarter worth about $25,000. First Pacific Financial acquired a new stake in shares of Public Storage during the 3rd quarter worth approximately $26,000. Asset Dedication LLC raised its stake in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares during the last quarter. NewSquare Capital LLC lifted its holdings in Public Storage by 60.6% in the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 40 shares during the period. Finally, Tradewinds Capital Management LLC bought a new position in Public Storage in the third quarter valued at approximately $33,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $275.91 on Friday. The firm’s 50 day moving average is $272.40 and its 200-day moving average is $281.96. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $48.41 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 7.22 and a beta of 1.01. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating the consensus estimate of $4.24 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.20 earnings per share. Equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSA. Wells Fargo & Company raised their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Mizuho reduced their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Royal Bank Of Canada cut their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. UBS Group reduced their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $313.19.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.