Lederer & Associates Investment Counsel CA reduced its position in shares of Public Storage (NYSE:PSA) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,665 shares of the real estate investment trust’s stock after selling 190 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Public Storage were worth $397,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Aspire Private Capital LLC increased its stake in Public Storage by 232.0% in the 1st quarter. Aspire Private Capital LLC now owns 166 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in Public Storage during the 4th quarter valued at about $37,000. Cornerstone Advisors Inc. grew its stake in Public Storage by 42.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 60 shares in the last quarter. Truvestments Capital LLC purchased a new position in Public Storage during the 1st quarter valued at about $48,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in Public Storage during the 1st quarter valued at about $49,000. 80.37% of the stock is currently owned by hedge funds and other institutional investors.

PSA has been the subject of several research reports. Bank of America set a $224.00 price target on Facebook and gave the company a “buy” rating in a report on Friday, July 19th. KeyCorp reiterated a “buy” rating and set a $143.00 price target on shares of Microsoft in a report on Tuesday, June 11th. Argus lifted their price target on Public Storage to $240.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group reiterated a “hold” rating on shares of COMPASS GRP PLC/S in a report on Tuesday, April 9th. Finally, ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Public Storage currently has a consensus rating of “Hold” and a consensus price target of $218.39.

PSA traded down $2.67 on Friday, hitting $239.43. The company had a trading volume of 951,951 shares, compared to its average volume of 760,735. The stock’s fifty day simple moving average is $243.48. Public Storage has a 1-year low of $193.89 and a 1-year high of $251.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $42.25 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 5.72 and a beta of 0.17.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.79). Public Storage had a return on equity of 34.73% and a net margin of 62.54%. The company had revenue of $689.00 million during the quarter, compared to analyst estimates of $685.75 million. During the same quarter last year, the firm posted $2.48 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Public Storage will post 10.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.34%. Public Storage’s dividend payout ratio (DPR) is presently 75.76%.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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