Public Storage (NYSE:PSA) Shares Sold by Meitav Dash Investments Ltd.

Meitav Dash Investments Ltd. decreased its holdings in Public Storage (NYSE:PSA) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,743 shares of the real estate investment trust’s stock after selling 2,630 shares during the period. Meitav Dash Investments Ltd.’s holdings in Public Storage were worth $2,729,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PSA. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Public Storage by 4.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 71,282 shares of the real estate investment trust’s stock valued at $14,157,000 after buying an additional 3,183 shares during the period. Royal Fund Management LLC purchased a new stake in shares of Public Storage in the 1st quarter valued at approximately $32,000. HCR Wealth Advisors purchased a new stake in shares of Public Storage in the 1st quarter valued at approximately $1,080,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Public Storage by 91.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,793 shares of the real estate investment trust’s stock valued at $1,547,000 after buying an additional 3,733 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its stake in shares of Public Storage by 34.3% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 7,837 shares of the real estate investment trust’s stock valued at $1,557,000 after buying an additional 2,002 shares during the period. Institutional investors own 78.14% of the company’s stock.

Several research firms have recently weighed in on PSA. SunTrust Banks dropped their price target on shares of Public Storage from $205.00 to $195.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Citigroup lowered their price objective on shares of Public Storage from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Stifel Nicolaus increased their price objective on shares of Public Storage from $183.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wells Fargo & Co lowered their price objective on shares of Public Storage from $202.00 to $201.00 and set an “underweight” rating for the company in a research report on Thursday, April 2nd. Finally, Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $254.00 to $267.00 in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $222.41.

PSA stock traded up $2.74 during midday trading on Friday, hitting $185.51. The company’s stock had a trading volume of 367,278 shares, compared to its average volume of 1,079,990. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. Public Storage has a 52-week low of $155.37 and a 52-week high of $266.76. The firm has a market capitalization of $31.95 billion, a P/E ratio of 25.30, a PEG ratio of 4.91 and a beta of 0.10. The firm has a 50-day simple moving average of $190.81 and a 200-day simple moving average of $208.00.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.08. Public Storage had a net margin of 52.93% and a return on equity of 30.33%. The company had revenue of $716.08 million during the quarter, compared to analysts’ expectations of $710.00 million. During the same quarter last year, the company posted $1.73 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts expect that Public Storage will post 10.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.31%. Public Storage’s payout ratio is 74.42%.

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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