Bank Julius Baer & Co. Ltd Zurich Purchases 6,501 Shares of Public Storage $PSA

Key Points

• Bank Julius Baer increased its Public Storage holdings by 2.0% in the third quarter, adding 6,501 shares for a total position worth approximately $92.9 million. Institutional investors and hedge funds collectively own 78.79% of the company.
• Public Storage reported quarterly revenue of $1.37 billion, exceeding estimates, but earnings per share of $1.69 fell short of the $2.49 consensus forecast. The company pays an annualized dividend of $12.00 per share, yielding about 3.7%.
• Analysts maintain a largely cautious outlook, with the stock receiving a consensus “Hold” rating and an average price target of $323.68, near its reported trading price.

Bank Julius Baer & Co. Ltd Zurich raised its holdings in Public Storage (NYSE:PSA - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 328,055 shares of the real estate investment trust's stock after purchasing an additional 6,501 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.19% of Public Storage worth $92,949,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in Public Storage in the second quarter worth approximately $5,495,077,000. Dimensional Fund Advisors LP increased its stake in Public Storage by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,280,540 shares of the real estate investment trust's stock valued at $617,720,000 after purchasing an additional 67,787 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Public Storage in the second quarter valued at about $601,650,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $558,904,000. Finally, Deutsche Bank AG acquired a new stake in shares of Public Storage in the second quarter worth approximately $400,776,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of Public Storage stock opened at $324.95 on Monday. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The stock has a 50 day moving average of $298.85 and a 200 day moving average of $302.79. The firm has a market cap of $60.71 billion, a PE ratio of 34.03, a PEG ratio of 4.84 and a beta of 0.89. 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 (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.31 earnings per share. On average, research analysts expect that Public Storage will post 16.96 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage's payout ratio is 125.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PSA shares. Mizuho increased their price target on Public Storage from $316.00 to $319.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 2nd. Evercore set a $308.00 price objective on shares of Public Storage in a research report on Monday, September 21st. Royal Bank Of Canada raised their price target on shares of Public Storage from $318.00 to $323.00 and gave the company a "sector perform" rating in a report on Wednesday. UBS Group restated a "neutral" rating on shares of Public Storage in a report on Tuesday, October 27th. Finally, Weiss Ratings downgraded shares of Public Storage from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Public Storage currently has an average rating of "Hold" and a consensus target price of $323.68.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which is available through this link. 11.10% of the stock is owned by insiders.

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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