Barrett Asset Management LLC Has $136,000 Position in Public Storage (NYSE:PSA)

Barrett Asset Management LLC continued to hold its position in shares of Public Storage (NYSE:PSA) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 650 shares of the real estate investment trust’s stock at the end of the second quarter. Barrett Asset Management LLC’s holdings in Public Storage were worth $136,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Independent Order of Foresters raised its position in shares of Public Storage by 5.6% in the second quarter. Independent Order of Foresters now owns 37,509 shares of the real estate investment trust’s stock valued at $7,822,000 after buying an additional 2,000 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Public Storage by 0.6% in the second quarter. Pictet Asset Management Ltd. now owns 100,427 shares of the real estate investment trust’s stock valued at $21,627,000 after buying an additional 620 shares during the period. TD Asset Management Inc. raised its position in shares of Public Storage by 69.2% in the second quarter. TD Asset Management Inc. now owns 113,095 shares of the real estate investment trust’s stock valued at $23,583,000 after buying an additional 46,262 shares during the period. Tdam USA Inc. bought a new stake in Public Storage during the second quarter valued at approximately $427,000. Finally, Honeywell International Inc. boosted its stake in Public Storage by 9.1% in the second quarter. Honeywell International Inc. now owns 30,995 shares of the real estate investment trust’s stock valued at $6,463,000 after buying an additional 2,575 shares in the last quarter. 78.47% of the stock is owned by institutional investors.

Public Storage (NYSE:PSA) opened at 196.29 on Friday. The company has a 50-day moving average of $204.11 and a 200-day moving average of $214.49. The firm has a market cap of $34.15 billion, a price-to-earnings ratio of 28.00 and a beta of 0.41. Public Storage has a 52 week low of $192.15 and a 52 week high of $233.39.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by $0.95. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The company had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $626.27 million. During the same period last year, the business earned $2.40 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Public Storage will post $7.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is currently 113.96%.

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Several research firms recently commented on PSA. Jefferies Group LLC set a $210.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research report on Thursday. Argus cut 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 report on Tuesday, August 1st. BidaskClub cut shares of Public Storage from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Bank of America Corporation cut their price target on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $220.55.

In other Public Storage news, Director Ronald P. Spogli bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total transaction of $12,426,600.00. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.

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.

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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