Public Storage (NYSE:PSA) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in Public Storage (NYSE:PSAGet Rating) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,238 shares of the real estate investment trust’s stock after selling 9,387 shares during the period. Teacher Retirement System of Texas’ holdings in Public Storage were worth $55,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Forsta AP Fonden lifted its stake in Public Storage by 11.3% during the 1st quarter. Forsta AP Fonden now owns 34,400 shares of the real estate investment trust’s stock valued at $13,426,000 after acquiring an additional 3,500 shares during the period. Wealthsource Partners LLC acquired a new stake in Public Storage during the 1st quarter valued at approximately $421,000. Lindenwold Advisors lifted its stake in Public Storage by 2.8% during the 1st quarter. Lindenwold Advisors now owns 4,794 shares of the real estate investment trust’s stock valued at $1,871,000 after acquiring an additional 130 shares during the period. Lincoln National Corp lifted its stake in Public Storage by 1.3% during the 1st quarter. Lincoln National Corp now owns 2,813 shares of the real estate investment trust’s stock valued at $1,098,000 after acquiring an additional 37 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Public Storage by 0.7% during the 1st quarter. Brown Advisory Inc. now owns 8,504 shares of the real estate investment trust’s stock valued at $3,281,000 after acquiring an additional 58 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSA. Citigroup restated a “buy” rating and set a $367.00 price objective on shares of Public Storage in a research note on Thursday, July 28th. Jefferies Financial Group cut their target price on shares of Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a report on Thursday, June 30th. BMO Capital Markets raised shares of Public Storage from a “market perform” rating to an “outperform” rating and cut their target price for the company from $410.00 to $370.00 in a report on Thursday, May 19th. Stifel Nicolaus cut their target price on shares of Public Storage from $410.00 to $360.00 in a report on Tuesday, June 21st. Finally, UBS Group cut their target price on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Public Storage Price Performance

Shares of NYSE PSA opened at $331.20 on Friday. The firm has a market cap of $58.11 billion, a PE ratio of 28.21, a PEG ratio of 3.01 and a beta of 0.34. The firm has a fifty day moving average of $316.49 and a 200 day moving average of $347.43. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.07 and a current ratio of 2.07. Public Storage has a one year low of $292.32 and a one year high of $421.76.

Public Storage (NYSE:PSAGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.96). The company had revenue of $749.27 million during the quarter, compared to analysts’ expectations of $985.58 million. Public Storage had a return on equity of 41.12% and a net margin of 56.93%. Public Storage’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 EPS. As a group, research analysts predict that Public Storage will post 15.56 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, September 14th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.42%. The ex-dividend date is Tuesday, September 13th. Public Storage’s payout ratio is presently 68.14%.

Public Storage Profile

(Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 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 239 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 September 30, 2020.

See Also

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAGet Rating).

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

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.