Public Storage (PSA) : Transamerica Financial Advisors reduced its stake in Public Storage by 63.27% during the most recent quarter end. The investment management company now holds a total of 9,141 shares of Public Storage which is valued at $2,348,689 after selling 15,746 shares in Public Storage , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Public Storage makes up approximately 0.20% of Transamerica Financial Advisors’s portfolio.
Public Storage closed down -8.6 points or -3.35% at $248.21 with 12,44,215 shares getting traded on Wednesday. Post opening the session at $254.16, the shares hit an intraday low of $246 and an intraday high of $254.38 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Strs Ohio sold out all of its stake in PSA during the most recent quarter. The investment firm sold 320,764 shares of PSA which is valued $82,417,102.First Quadrant L Pca reduced its stake in PSA by selling 11,600 shares or 70.56% in the most recent quarter. The Hedge Fund company now holds 4,840 shares of PSA which is valued at $1,243,590. Public Storage makes up approx 0.03% of First Quadrant L Pca’s portfolio. Brookstone Capital Management added PSA to its portfolio by purchasing 842 company shares during the most recent quarter which is valued at $225,605. Public Storage makes up approx 0.03% of Brookstone Capital Management’s portfolio.Creative Planning boosted its stake in PSA in the latest quarter, The investment management firm added 2,538 additional shares and now holds a total of 11,956 shares of Public Storage which is valued at $3,255,021. Public Storage makes up approx 0.03% of Creative Planning’s portfolio.
On the company’s financial health, Public Storage reported $2.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.19. The company had revenue of $611.80 million for the quarter, compared to analysts expectations of $573.24 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS.
Many Wall Street Analysts have commented on Public Storage. Public Storage was Downgraded by Goldman to ” Sell” on Apr 25, 2016. 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 .
Public Storage (the Trust) is a real estate investment trust (REIT). The Trusts 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.