Westpac Banking Corp raised its stake in shares of Public Storage (NYSE:PSA) by 113.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 110,091 shares of the real estate investment trust’s stock after purchasing an additional 58,553 shares during the quarter. Westpac Banking Corp’s holdings in Public Storage were worth $26,220,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashburton Jersey Ltd bought a new position in Public Storage during the 2nd quarter valued at about $32,000. Manchester Financial Inc. bought a new position in Public Storage during the 2nd quarter valued at about $34,000. Aspire Private Capital LLC lifted its stake in Public Storage by 232.0% during the 1st quarter. Aspire Private Capital LLC now owns 166 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Cornerstone Advisors Inc. lifted 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 during the period. Finally, Truvestments Capital LLC bought a new position in Public Storage during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

In other Public Storage news, Chairman B Wayne Et Al Hughes sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $256.10, for a total transaction of $10,244,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.00% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on PSA. ValuEngine upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Bank of America upgraded shares of Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. KeyCorp upgraded shares of Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price objective on the stock in a research note on Tuesday, June 11th. Finally, Barclays reiterated a “sell” rating and issued a $218.00 price objective on shares of Public Storage in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $222.45.

Shares of NYSE:PSA traded down $0.82 during trading on Tuesday, hitting $257.87. The company’s stock had a trading volume of 33,385 shares, compared to its average volume of 824,899. The company has a 50-day simple moving average of $245.78. Public Storage has a 12 month low of $193.89 and a 12 month high of $259.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm has a market cap of $44.88 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 6.07 and a beta of 0.17.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($0.87). Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The business had revenue of $710.95 million during the quarter, compared to the consensus estimate of $702.70 million. During the same quarter last year, the company earned $2.57 EPS. Public Storage’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Public Storage will post 10.73 EPS for the current year.

Public Storage 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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