Heitman Real Estate Securities Lowers stake in Public Storage (PSA)

Public Storage (PSA) : Heitman Real Estate Securities reduced its stake in Public Storage by 11.06% during the most recent quarter end. The investment management company now holds a total of 346,323 shares of Public Storage which is valued at $74,961,613 after selling 43,088 shares in Public Storage , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Public Storage makes up approximately 4.58% of Heitman Real Estate Securities’s portfolio.

Other Hedge Funds, Including , Mount Lucas Management Lp reduced its stake in PSA by selling 17,049 shares or 60.04% in the most recent quarter. The Hedge Fund company now holds 11,345 shares of PSA which is valued at $2,455,625. Public Storage makes up approx 0.44% of Mount Lucas Management Lp’s portfolio.Norinchukin Bank The boosted its stake in PSA in the latest quarter, The investment management firm added 4,752 additional shares and now holds a total of 7,984 shares of Public Storage which is valued at $1,690,452. Public Storage makes up approx 0.04% of Norinchukin Bank The’s portfolio.Sentry Investment Management reduced its stake in PSA by selling 2,078 shares or 23.75% in the most recent quarter. The Hedge Fund company now holds 6,670 shares of PSA which is valued at $1,370,285. Public Storage makes up approx 0.06% of Sentry Investment Management’s portfolio.Ngam Advisors boosted its stake in PSA in the latest quarter, The investment management firm added 241 additional shares and now holds a total of 68,368 shares of Public Storage which is valued at $14,045,522. Public Storage makes up approx 0.19% of Ngam Advisors’s portfolio. Kornitzer Capital Management Inc Ks added PSA to its portfolio by purchasing 950 company shares during the most recent quarter which is valued at $195,434.

Public Storage closed down -0.64 points or -0.31% at $203.97 with 8,59,954 shares getting traded on Monday. Post opening the session at $204.55, the shares hit an intraday low of $201.7 and an intraday high of $206.1724 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Public Storage reported $2.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $2.52. The company had revenue of $663.15 million for the quarter, compared to analysts expectations of $613.81 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 EPS.

Investors should note that on Oct 26, 2016, Public Storage announced a cash dividend of $2.0000. The company’s management has announced Dec 12, 2016 as the ex-dividend date and fixed the record date on Dec 14, 2016. The payable date has been fixed on Dec 29, 2016.

Many Wall Street Analysts have commented on Public Storage. Public Storage was Upgraded by Goldman to ” Neutral” on Oct 31, 2016. Shares were Reiterated by FBR & Co. on Oct 27, 2016 to “Mkt Perform” and Lowered the Price Target to $ 225 from a previous price target of $250 .

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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