State Board of Administration of Florida Retirement System Boosts Stake in Public Storage (NYSE:PSA)

State Board of Administration of Florida Retirement System raised its position in Public Storage (NYSE:PSA) by 5.3% during the second quarter, HoldingsChannel.com reports. The firm owned 212,945 shares of the real estate investment trust’s stock after purchasing an additional 10,740 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Public Storage were worth $50,717,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Public Storage by 13.7% during the second quarter. Nisa Investment Advisors LLC now owns 56,839 shares of the real estate investment trust’s stock worth $13,537,000 after acquiring an additional 6,834 shares during the period. Ashburton Jersey Ltd purchased a new position in shares of Public Storage during the second quarter worth approximately $32,000. Mid Atlantic Financial Management Inc. ADV increased its position in shares of Public Storage by 28.4% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 1,596 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 353 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Public Storage by 5.9% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 1,966 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 110 shares during the period. Finally, AdvisorNet Financial Inc increased its position in shares of Public Storage by 9.6% during the second quarter. AdvisorNet Financial Inc now owns 1,292 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 113 shares during the period. 79.24% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on PSA. KeyCorp raised shares of Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 target price on the stock in a research report on Tuesday, June 11th. ValuEngine raised shares of Public Storage from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. Robert W. Baird raised shares of Public Storage from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $200.00 to $254.00 in a research report on Wednesday. Finally, Stifel Nicolaus began coverage on shares of Public Storage in a research report on Monday. They set a “buy” rating and a $285.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $234.22.

PSA stock traded up $1.65 during trading on Wednesday, hitting $262.19. 151,558 shares of the company’s stock traded hands, compared to its average volume of 849,036. The firm has a market capitalization of $45.18 billion, a P/E ratio of 24.83, a PEG ratio of 6.03 and a beta of 0.17. The business has a fifty day simple moving average of $249.25 and a two-hundred day simple moving average of $229.56. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.38. Public Storage has a 1 year low of $193.89 and a 1 year high of $262.97.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($0.87). The business had revenue of $710.95 million for the quarter, compared to analysts’ expectations of $702.70 million. Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. On average, equities research analysts predict that Public Storage will post 10.73 EPS for the current fiscal year.

In related news, Chairman B Wayne Et Al Hughes sold 38,000 shares of Public Storage stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $257.89, for a total transaction of $9,799,820.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 14.00% of the company’s stock.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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

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