Green Street Investors Lowers stake in Public Storage (PSA)

Public Storage (PSA) : Green Street Investors reduced its stake in Public Storage by 19.64% during the most recent quarter end. The investment management company now holds a total of 27,000 shares of Public Storage which is valued at $6,609,870 after selling 6,600 shares in Public Storage , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Public Storage makes up approximately 5.94% of Green Street Investors’s portfolio.

Public Storage opened for trading at $245.24 and hit $253.66 on the upside on Monday, eventually ending the session at $252.57, with a gain of 3.17% or 7.76 points. The heightened volatility saw the trading volume jump to 9,98,070 shares. Company has a market cap of $43,763 M.

Other Hedge Funds, Including , Bedrijfstakpensioenfonds Voor De Media Pno reduced its stake in PSA by selling 1,700 shares or 24.64% in the most recent quarter. The Hedge Fund company now holds 5,200 shares of PSA which is valued at $1,273,012. Public Storage makes up approx 0.18% of Bedrijfstakpensioenfonds Voor De Media Pno’s portfolio.Transamerica Financial Advisors reduced its stake in PSA by selling 15,746 shares or 63.27% in the most recent quarter. The Hedge Fund company now holds 9,141 shares of PSA which is valued at $2,348,689. Public Storage makes up approx 0.20% of Transamerica Financial Advisors’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. Dnb Asset Management As added PSA to its portfolio by purchasing 11,889 company shares during the most recent quarter which is valued at $3,185,539. Public Storage makes up approx 0.07% of Dnb Asset Management As’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. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 253 from a previous price target of $251 .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 .

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.

Leave a Reply

Public Storage - Is it time to Sell?

Top Brokerage Firms are advising their investors on Public Storage. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.