Public Storage (NYSE:PSA) 2017 Q2 Sentiment Report

Cornelia Mascio
Dicembre 13, 2017

Diligent Investors LLC acquired a new stake in Public Storage (NYSE:PSA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,281 shares of the real estate investment trust's stock after acquiring an additional 4,580 shares during the period. Cable Hill Partners LLC raised its position in shares of Public Storage by 139.9% during the 3rd quarter. Hedge funds and other institutional investors own 81.13% of the company's stock. Bessemer Group Inc. bought a new stake in Public Storage in the 2nd quarter valued at about $105,000. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust's stock valued at $200,000 after acquiring an additional 175 shares in the last quarter. Nationwide Fund Advisors raised its stake in Public Storage by 2.1% in the first quarter. APG Asset Management US Inc. now owns 671,000 shares of the real estate investment trust's stock valued at $54,895,000 after buying an additional 57,500 shares during the period. Nationwide Fund Advisors grew its holdings in Public Storage by 7.6% in the second quarter. Bank of America downgraded Public Storage (NYSE:PSA) on Monday, December 4 to "Underperform" rating. The firm owned 8,232 shares of the real estate investment trust's stock after selling 92 shares during the period. Johnson Financial Group Inc. lifted its position in shares of Public Storage by 274.4% in the second quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust's stock valued at $72,881,000 after acquiring an additional 8,600 shares in the last quarter.

PSA has been the subject of a number of other research reports. The stock of Public Storage (NYSE:PSA) earned "Buy" rating by Argus Research on Wednesday, January 27.

Among 16 analysts covering Public Storage (NYSE:PSA), 2 have Buy rating, 5 Sell and 9 Hold. KeyCorp restated a "sell" rating and issued a $184.00 target price on shares of Public Storage in a research report on Wednesday, September 13th. The company was maintained on Thursday, March 23 by BMO Capital Markets. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. The stock now has a consensus rating of "Hold" and an average target price of $227.80.

Public Storage (PSA) traded up $0.84 on Monday, reaching $211.68. 466,624 shares of the company's stock traded hands, compared to its average volume of 503,422. Public Storage has a 1 year low of $192.15 and a 1 year high of $232.21. The firm has a market capitalization of $36.70 billion, a PE ratio of 29.98 and a beta of 0.45.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. The ex-dividend date of this dividend is Tuesday, December 12th. Public Storage's payout ratio is 116.79%.

In other Public Storage news, insider John Reyes sold 60,000 shares of the company's stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The Company's principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.

COPYRIGHT VIOLATION WARNING: This story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal.

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company.

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