Public Storage (PSA) : State Of Alaska Department Of Revenue reduced its stake in Public Storage by 13.07% during the most recent quarter end. The investment management company now holds a total of 59,790 shares of Public Storage which is valued at $15,062,297 after selling 8,990 shares in Public Storage , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Public Storage makes up approximately 1.55% of State Of Alaska Department Of Revenue’s portfolio.
Other Hedge Funds, Including , Alpha Windward reduced its stake in PSA by selling 73 shares or 8.01% in the most recent quarter. The Hedge Fund company now holds 838 shares of PSA which is valued at $215,651. Public Storage makes up approx 0.15% of Alpha Windward’s portfolio. Lifeplan Financial Group Inc sold out all of its stake in PSA during the most recent quarter. The investment firm sold 778 shares of PSA which is valued $200,211.
Public Storage closed down -0.22 points or -0.09% at $251.92 with 3,79,549 shares getting traded on Wednesday. Post opening the session at $252.26, the shares hit an intraday low of $250.77 and an intraday high of $252.47 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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 KeyBanc Capital Mkts to ” Underweight” on Jul 15, 2016. Public Storage was Initiated by FBR Capital to “Mkt Perform” on Jun 23, 2016. Company shares were Reiterated by RBC Capital Mkts on May 11, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 243 from a previous price target of $235 .
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.