Investors Sell Shares of Public Storage (PSA) on Strength (PSA)

Investors sold shares of Public Storage (NYSE:PSA) on strength during trading on Thursday. $24.38 million flowed into the stock on the tick-up and $49.09 million flowed out of the stock on the tick-down, for a money net flow of $24.71 million out of the stock. Of all equities tracked, Public Storage had the 0th highest net out-flow for the day. Public Storage traded up $0.76 for the day and closed at $214.87

A number of research analysts recently commented on the stock. Bank of America Corporation lowered their price objective on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. Jefferies Group LLC set a $210.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Public Storage from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. Finally, Argus lowered their price objective on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $214.91.

The firm has a market cap of $37.19 billion, a PE ratio of 30.49 and a beta of 0.42. The stock has a 50-day moving average of $205.20 and a 200-day moving average of $212.38.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.95). The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.40 earnings per share. Equities research analysts forecast that Public Storage will post $7.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is 113.96%.

In other Public Storage news, Director Ronald P. Spogli purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.42% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Israel Discount Bank of New York bought a new stake in Public Storage in the first quarter valued at approximately $100,000. Bessemer Group Inc. bought a new stake in Public Storage in the second quarter valued at approximately $105,000. Northwestern Mutual Wealth Management Co. increased its stake in Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 75 shares in the last quarter. CENTRAL TRUST Co increased its stake in Public Storage by 41.3% in the second quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 169 shares in the last quarter. Finally, Guardian Life Insurance Co. of America increased its stake in Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 5 shares in the last quarter. 80.15% of the stock is owned by institutional investors and hedge funds.

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Public Storage Company Profile

Public Storage is a real estate investment trust (REIT). 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.

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