Public Storage (PSA) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC decreased its stake in Public Storage (NYSE:PSA) by 13.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547 shares of the real estate investment trust’s stock after selling 82 shares during the period. Quadrant Capital Group LLC’s holdings in Public Storage were worth $103,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Guardian Life Insurance Co. of America grew its stake in shares of 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 worth $126,000 after acquiring an additional 5 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Public Storage by 0.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 5 shares during the last quarter. Merriman Wealth Management LLC grew its stake in shares of Public Storage by 0.3% in the second quarter. Merriman Wealth Management LLC now owns 1,920 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 5 shares during the last quarter. Concorde Asset Management LLC grew its stake in shares of Public Storage by 0.3% in the second quarter. Concorde Asset Management LLC now owns 2,511 shares of the real estate investment trust’s stock worth $523,000 after acquiring an additional 8 shares during the last quarter. Finally, First Hawaiian Bank grew its stake in shares of Public Storage by 0.5% in the second quarter. First Hawaiian Bank now owns 1,765 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 9 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.

In other Public Storage news, Director Ronald P. Spogli acquired 2,000 shares of Public Storage stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired 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 can be accessed through this link. Company insiders own 14.42% of the company’s stock.

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Several brokerages have recently issued reports on PSA. BMO Capital Markets started coverage on shares of Public Storage in a research note on Monday, September 11th. They issued an “underperform” rating and a $193.00 price objective on the stock. 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. Evercore ISI reiterated an “underperform” rating and set a $204.00 price target (up previously from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $222.00 price target on shares of Public Storage in a research note on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Public Storage has a consensus rating of “Hold” and an average price target of $214.91.

Public Storage (NYSE:PSA) traded up 0.37% on Thursday, hitting $215.48. The company had a trading volume of 101,664 shares. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The firm has a 50-day moving average price of $211.30 and a 200-day moving average price of $211.37. The firm has a market capitalization of $37.49 billion, a PE ratio of 30.74 and a beta of 0.44.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the consensus estimate of $2.54 by ($0.95). The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $2.40 earnings per share. On average, equities research analysts anticipate that Public Storage will post $7.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.73%. The ex-dividend date was Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.96%.

About Public Storage

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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