Bennicas Associates Lowers stake in Public Storage (PSA)

Public Storage (PSA) : Bennicas Associates reduced its stake in Public Storage by 6.72% during the most recent quarter end. The investment management company now holds a total of 8,324 shares of Public Storage which is valued at $2,138,769 after selling 600 shares in Public Storage , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Public Storage makes up approximately 1.99% of Bennicas Associates’s portfolio.

Public Storage opened for trading at $255.8 and hit $257.16 on the upside on Friday, eventually ending the session at $256.94, with a gain of 0.73% or 1.85 points. The heightened volatility saw the trading volume jump to 7,84,992 shares. Company has a market cap of $44,520 M.

Other Hedge Funds, Including , Private Trust Co Na added PSA to its portfolio by purchasing 738 company shares during the most recent quarter which is valued at $189,622. Public Storage makes up approx 0.05% of Private Trust Co Na’s portfolio.Kanaly Trust Co reduced its stake in PSA by selling 4 shares or 4.76% in the most recent quarter. The Hedge Fund company now holds 80 shares of PSA which is valued at $21,435.Eqis Capital Management reduced its stake in PSA by selling 4 shares or 0.25% in the most recent quarter. The Hedge Fund company now holds 1,620 shares of PSA which is valued at $441,045. Public Storage makes up approx 0.03% of Eqis Capital Management’s portfolio.Proficio Capital Partners reduced its stake in PSA by selling 4 shares or 10.53% in the most recent quarter. The Hedge Fund company now holds 34 shares of PSA which is valued at $9,257. Public Storage makes up approx 0.01% of Proficio Capital Partners’s portfolio.British Columbia Investment Management Corp boosted its stake in PSA in the latest quarter, The investment management firm added 1,532 additional shares and now holds a total of 75,312 shares of Public Storage which is valued at $20,503,692. Public Storage makes up approx 0.19% of British Columbia Investment Management Corp’s portfolio.

On the company’s financial health, Public Storage reported $2.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 28, 2015. Analyst had a consensus of $2.26. The company had revenue of $618.87 million for the quarter, compared to analysts expectations of $615.19 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS.

Many Wall Street Analysts have commented on Public Storage. Company shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 232 from a previous price target of $218 .Company shares were Reiterated by Argus on Jan 27, 2016 to “Buy”, Firm has raised the Price Target to $ 275 from a previous price target of $248 .Shares were Downgraded by Barclays on Jan 26, 2016 to ” Equal Weight” and Lowered the Price Target to $ 218 from a previous price target of $221 .

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage European Self-Storage and Commercial. The Trust acquires develops owns and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.

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