45,349 Shares in Public Storage $PSA Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in Public Storage, acquiring 45,349 shares worth about $12.8 million in the third quarter. Institutional investors own 78.79% of the REIT’s stock.
• Public Storage reported quarterly EPS of $1.69, below the $2.49 analyst consensus, though revenue of $1.37 billion topped estimates and rose 0.5% year over year.
• Analysts have a consensus Hold rating and an average price target of $323.68; the stock opened at $333.06 in the article’s reported session.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 45,349 shares of the real estate investment trust's stock, valued at approximately $12,827,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC increased its holdings in Public Storage by 2.2% in the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust's stock valued at $419,000 after buying an additional 34 shares during the period. Nilsine Partners LLC raised its stake in shares of Public Storage by 2.9% in the 2nd quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust's stock valued at $385,000 after buying an additional 34 shares in the last quarter. Aegis Wealth Management Inc. raised its stake in shares of Public Storage by 2.5% in the 3rd quarter. Aegis Wealth Management Inc. now owns 1,375 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 34 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in shares of Public Storage by 2.6% during the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust's stock worth $385,000 after acquiring an additional 36 shares during the period. Finally, Chesapeake Capital Corp IL lifted its holdings in shares of Public Storage by 1.3% during the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust's stock worth $953,000 after acquiring an additional 38 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

NYSE PSA opened at $333.06 on Wednesday. The firm has a market cap of $62.23 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 4.96 and a beta of 0.89. The company has a 50 day moving average of $299.22 and a 200-day moving average of $303.28. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.49 by ($0.80). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.31 EPS. On average, equities analysts forecast that Public Storage will post 16.97 earnings per share for the current fiscal year.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 11.10% of the company's stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Public Storage from $338.00 to $330.00 and set a "neutral" rating on the stock in a research note on Monday, September 21st. Wells Fargo & Company set a $311.00 target price on Public Storage in a research report on Tuesday, September 1st. Raymond James Financial assumed coverage on Public Storage in a research report on Thursday, July 16th. They set a "market perform" rating for the company. Weiss Ratings lowered Public Storage from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada upped their price target on Public Storage from $318.00 to $323.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $323.68.

Public Storage Profile

Public Storage NYSE: PSA is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.

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