Public Storage (NYSE:PSA) – Analysts at KeyCorp issued their FY2019 EPS estimates for Public Storage in a research note issued on Monday. KeyCorp analyst T. Thomas expects that the real estate investment trust will post earnings per share of $11.12 for the year.
Several other analysts have also issued reports on the stock. Barclays reissued a “hold” rating and issued a $201.00 price target on shares of Public Storage in a research report on Wednesday. Zacks Investment Research cut shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Morgan Stanley cut shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a research note on Wednesday, December 13th. Bank of America cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price objective for the company. in a research note on Monday, December 4th. They noted that the move was a valuation call. Finally, Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research note on Tuesday, November 28th. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $208.92.
A number of hedge funds have recently added to or reduced their stakes in PSA. Cable Hill Partners LLC grew its stake in Public Storage by 139.9% in the 3rd quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 459 shares in the last quarter. D.A. Davidson & CO. grew its stake in Public Storage by 23.8% in the 2nd quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 170 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in Public Storage in the 2nd quarter worth approximately $198,000. IHT Wealth Management LLC grew its stake in Public Storage by 43.0% in the 2nd quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 175 shares in the last quarter. Finally, Prudential PLC purchased a new position in Public Storage in the 2nd quarter worth approximately $200,000. 80.76% of the stock is owned by institutional investors and hedge funds.
In related news, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Reyes sold 60,000 shares of the business’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 disclosure for this sale can be found here. 14.42% of the stock is currently owned by insiders.
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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.
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