Security National Trust Co. Has $218,000 Position in Public Storage (PSA)

Security National Trust Co. boosted its stake in shares of Public Storage (NYSE:PSA) by 217.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,044 shares of the real estate investment trust’s stock after buying an additional 715 shares during the period. Security National Trust Co.’s holdings in Public Storage were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PSA. BlackRock Inc. increased its position in shares of Public Storage by 2,552.4% in the first quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock valued at $3,101,367,000 after buying an additional 13,633,185 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Public Storage by 109.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,034,261 shares of the real estate investment trust’s stock valued at $445,320,000 after buying an additional 1,063,521 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Public Storage by 87.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,477,786 shares of the real estate investment trust’s stock valued at $323,502,000 after buying an additional 688,042 shares in the last quarter. Morgan Stanley increased its position in shares of Public Storage by 16.3% in the first quarter. Morgan Stanley now owns 2,751,504 shares of the real estate investment trust’s stock valued at $602,333,000 after buying an additional 385,136 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Public Storage by 1.8% in the first quarter. Vanguard Group Inc. now owns 21,329,524 shares of the real estate investment trust’s stock valued at $4,669,246,000 after buying an additional 377,659 shares in the last quarter. 78.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Public Storage (NYSE PSA) opened at 196.29 on Friday. The company’s 50 day moving average is $204.11 and its 200-day moving average is $214.49. The company has a market capitalization of $34.15 billion, a P/E ratio of 28.00 and a beta of 0.41. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.

Public Storage (NYSE:PSA) last issued 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. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.40 EPS. On average, equities research analysts forecast that Public Storage will post $7.09 EPS for the current year.

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

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Several equities analysts recently issued reports on PSA shares. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Cantor Fitzgerald dropped their target price on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, May 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $222.00 target price on shares of Public Storage in a research note on Friday, July 14th. Bank of America Corporation dropped their target price on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Finally, Barclays PLC dropped their target price on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $220.55.

In related news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald P. Spogli acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $200.59 per share, with a total value of $401,180.00. The disclosure for this purchase can be found here. 14.42% of the stock is owned by company insiders.

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

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