Public Storage (NYSE:PSA) Shares Bought by Gyroscope Capital Management Group LLC

Gyroscope Capital Management Group LLC boosted its stake in shares of Public Storage (NYSE:PSA) by 20.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,937 shares of the real estate investment trust’s stock after purchasing an additional 331 shares during the period. Gyroscope Capital Management Group LLC’s holdings in Public Storage were worth $476,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ashburton Jersey Ltd acquired a new position in Public Storage during the second quarter worth $32,000. Manchester Financial Inc. acquired a new position in Public Storage during the second quarter worth $34,000. Coastal Investment Advisors Inc. acquired a new position in Public Storage during the second quarter worth $48,000. Liberty Wealth Management LLC raised its position in Public Storage by 7,433.3% during the second quarter. Liberty Wealth Management LLC now owns 226 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 223 shares during the period. Finally, North Star Investment Management Corp. acquired a new position in Public Storage during the third quarter worth $66,000. Institutional investors own 80.85% of the company’s stock.

Shares of NYSE PSA traded down $0.01 during mid-day trading on Friday, reaching $246.69. The company’s stock had a trading volume of 186,292 shares, compared to its average volume of 992,575. The stock has a 50-day moving average of $252.60 and a two-hundred day moving average of $239.89. The stock has a market capitalization of $43.09 billion, a P/E ratio of 23.36, a P/E/G ratio of 5.72 and a beta of 0.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 0.88. Public Storage has a 1-year low of $193.89 and a 1-year high of $266.76.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, missing the Zacks’ consensus estimate of $2.63 by ($0.87). The business had revenue of $710.95 million during the quarter, compared to analyst estimates of $702.70 million. Public Storage had a net margin of 60.77% and a return on equity of 33.78%. Public Storage’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share. Analysts predict that Public Storage will post 10.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.24%. The ex-dividend date was Wednesday, September 11th. Public Storage’s payout ratio is currently 75.76%.

A number of brokerages have recently commented on PSA. Argus increased their target price on shares of Public Storage to $290.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. They noted that the move was a valuation call. Citigroup increased their target price on shares of Public Storage from $223.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. SunTrust Banks increased their target price on shares of Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Bank of America upgraded shares of Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine cut shares of Public Storage from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $242.97.

In related news, Chairman B Wayne Et Al Hughes sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $263.41, for a total transaction of $52,682,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 278,000 shares of company stock valued at $72,725,820. 14.00% of the stock is owned by company insiders.

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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