Pure Financial Advisors Exits Position in Public Storage (PSA)

Public Storage (PSA) : Pure Financial Advisors has sold out all of its stake in Public Storage during the most recent quarter, according to the disclosure filed by the company on Oct 7, 2016 with the SEC. The investment management company has sold out 816 shares of Public Storage which is valued at $173,033.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in PSA by selling 234 shares or 18.83% in the most recent quarter. The Hedge Fund company now holds 1,009 shares of PSA which is valued at $213,958. Public Storage makes up approx 0.03% of First Mercantile Trust Co’s portfolio.Chevy Chase Trust Holdings reduced its stake in PSA by selling 1,488 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 124,446 shares of PSA which is valued at $25,995,525. Public Storage makes up approx 0.14% of Chevy Chase Trust Holdings’s portfolio. Curbstone Financial Management Corp added PSA to its portfolio by purchasing 2,024 company shares during the most recent quarter which is valued at $422,793. Public Storage makes up approx 0.14% of Curbstone Financial Management Corp’s portfolio.Washington Trust Bank boosted its stake in PSA in the latest quarter, The investment management firm added 118 additional shares and now holds a total of 538 shares of Public Storage which is valued at $112,383. Public Storage makes up approx 0.03% of Washington Trust Bank’s portfolio.West Oak Capital boosted its stake in PSA in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 1,045 shares of Public Storage which is valued at $218,290. Public Storage makes up approx 0.15% of West Oak Capital’s portfolio.

Public Storage opened for trading at $211.96 and hit $214.66 on the upside on Friday, eventually ending the session at $212.05, with a gain of 0.38% or 0.81 points. The heightened volatility saw the trading volume jump to 7,13,060 shares. Company has a market cap of $36,770 M.

On the company’s financial health, Public Storage reported $2.40 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $2.40. The company had revenue of $594.39 million for the quarter, compared to analysts expectations of $594.83 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS.

Many Wall Street Analysts have commented on Public Storage. Public Storage was Downgraded by BofA/Merrill to ” Neutral” on Aug 11, 2016. Public Storage was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Jul 15, 2016.

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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