Mutual Advisors LLC Sells 1,772 Shares of Public Storage (NYSE:PSA)

Mutual Advisors LLC reduced its position in shares of Public Storage (NYSE:PSA) by 49.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,831 shares of the real estate investment trust’s stock after selling 1,772 shares during the period. Mutual Advisors LLC’s holdings in Public Storage were worth $449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Cohen & Steers Inc. lifted its position in shares of Public Storage by 36.3% during the second quarter. Cohen & Steers Inc. now owns 8,050,898 shares of the real estate investment trust’s stock valued at $1,917,482,000 after purchasing an additional 2,142,247 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Public Storage by 31.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,966,418 shares of the real estate investment trust’s stock valued at $944,681,000 after purchasing an additional 945,431 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Public Storage by 113.6% during the second quarter. Nuveen Asset Management LLC now owns 1,746,052 shares of the real estate investment trust’s stock valued at $415,858,000 after purchasing an additional 928,491 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Public Storage by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 3,980,811 shares of the real estate investment trust’s stock valued at $943,612,000 after purchasing an additional 388,950 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Public Storage by 18.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock valued at $515,105,000 after purchasing an additional 341,718 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors.

Shares of PSA traded down $2.09 during trading hours on Friday, hitting $212.38. The company’s stock had a trading volume of 13,530 shares, compared to its average volume of 1,023,747. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 5.08 and a beta of 0.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50 day simple moving average of $239.11 and a two-hundred day simple moving average of $241.84. Public Storage has a 52-week low of $193.89 and a 52-week high of $266.76.

Public Storage (NYSE:PSA) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $729.33 million during the quarter, compared to the consensus estimate of $732.26 million. Public Storage had a net margin of 60.98% and a return on equity of 33.96%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. Research analysts predict that Public Storage will post 10.76 earnings per share for the current year.

In other news, Chairman B Wayne Et Al Hughes sold 200,000 shares of Public Storage stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $263.41, for a total value of $52,682,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.00% of the stock is owned by company insiders.

A number of analysts recently issued reports on PSA shares. Barclays set a $256.00 price objective on shares of Public Storage and gave the stock a “sell” rating in a report on Friday, October 11th. Argus raised their price objective on shares of Public Storage to $290.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. They noted that the move was a valuation call. Stifel Nicolaus decreased their price objective on shares of Public Storage from $285.00 to $266.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Public Storage from $223.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird upgraded shares of Public Storage from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $200.00 to $254.00 in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $245.56.

About Public Storage

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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