Perpetual Ltd Sells 600 Shares of Public Storage (NYSE:PSA)

Perpetual Ltd reduced its position in shares of Public Storage (NYSE:PSA) by 26.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,698 shares of the real estate investment trust’s stock after selling 600 shares during the quarter. Perpetual Ltd’s holdings in Public Storage were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Geode Capital Management LLC lifted its position in shares of Public Storage by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock valued at $497,192,000 after acquiring an additional 178,705 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Public Storage during the 4th quarter valued at approximately $230,000. DNB Asset Management AS lifted its position in shares of Public Storage by 56.0% during the 1st quarter. DNB Asset Management AS now owns 29,116 shares of the real estate investment trust’s stock valued at $6,341,000 after acquiring an additional 10,451 shares during the period. Calamos Advisors LLC lifted its position in shares of Public Storage by 1.0% during the 1st quarter. Calamos Advisors LLC now owns 23,510 shares of the real estate investment trust’s stock valued at $5,120,000 after acquiring an additional 233 shares during the period. Finally, Atlas Brown Inc. acquired a new position in shares of Public Storage during the 1st quarter worth approximately $207,000. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Storage stock traded up $1.05 during trading on Friday, hitting $257.05. 890,394 shares of the company were exchanged, compared to its average volume of 812,954. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.88 and a quick ratio of 0.88. Public Storage has a fifty-two week low of $193.89 and a fifty-two week high of $258.71. The stock has a market cap of $44.37 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 6.01 and a beta of 0.17. The stock has a 50 day moving average of $244.76.

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 (EPS) 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 company had revenue of $710.95 million for the quarter, compared to analyst estimates of $702.70 million. During the same quarter in the prior year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Public Storage will post 10.73 EPS for the current year.

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

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.

Further Reading: Management Fee

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

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