CVA Family Office LLC Sells 90 Shares of Public Storage (NYSE:PSA)

CVA Family Office LLC reduced its holdings in Public Storage (NYSE:PSA – Get Rating) by 40.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 135 shares of the real estate investment trust’s stock after selling 90 shares during the quarter. CVA Family Office LLC’s holdings in Public Storage were worth $40,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Public Storage by 8.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,832 shares of the real estate investment trust’s stock worth $5,807,000 after buying an additional 1,562 shares during the last quarter. AlphaCrest Capital Management LLC grew its position in shares of Public Storage by 58.5% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 11,976 shares of the real estate investment trust’s stock worth $3,745,000 after buying an additional 4,422 shares during the last quarter. National Pension Service grew its position in shares of Public Storage by 3.7% in the 3rd quarter. National Pension Service now owns 263,654 shares of the real estate investment trust’s stock worth $75,798,000 after buying an additional 9,289 shares during the last quarter. IFP Advisors Inc grew its position in shares of Public Storage by 2.9% in the 3rd quarter. IFP Advisors Inc now owns 2,893 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 82 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Public Storage in the 2nd quarter worth approximately $106,000. 77.88% of the stock is currently owned by institutional investors.

Public Storage Trading Up 2.2 %

Public Storage stock opened at $294.86 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $296.02 and its two-hundred day simple moving average is $297.28. Public Storage has a 12 month low of $270.13 and a 12 month high of $421.76. The company has a market capitalization of $51.82 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 3.52 and a beta of 0.44.

Public Storage (NYSE:PSA – Get Rating) last released its earnings results on Tuesday, February 21st. The real estate investment trust reported $2.06 EPS for the quarter, missing the consensus estimate of $3.99 by ($1.93). Public Storage had a return on equity of 72.77% and a net margin of 101.60%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $3.54 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts predict that Public Storage will post 16.77 earnings per share for the current fiscal year.

Public Storage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.07%. This is an increase from Public Storage’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Tuesday, March 14th. Public Storage’s payout ratio is 34.06%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSA. StockNews.com began coverage on Public Storage in a research report on Thursday. They set a “hold” rating on the stock. Raymond James lowered Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $368.91.

Public Storage Profile

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Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.