Public Storage (NYSE:PSA) Experiences Lighter than Average Trading Volume

Lloyd Doyle
September 10, 2017

Fiduciary Trust Co. decreased its position in Public Storage (NYSE:PSA) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). If the published price targets set by Public Storage analysts have any power to influence the stock's share price, the highest price target set for PSA is $237.

Public Storage (NYSE:PSA) last session's volume of 1.41 million shares was higher than its average volume of 0.86 million shares. Daiwa Securities Group Inc. boosted its holdings in shares of Public Storage by 109.6% during the 1st quarter.

Catalyst Capital Advisors Llc increased Verizon Communications Inc (NYSE:VZ) stake by 60,053 shares to 106,832 valued at $5.70M in 2016Q4. MA lifted its holdings in Public Storage by 87.1% during the 1st quarter. Loudon Investment Management LLC now owns 6,135 shares of the real estate investment trust's stock valued at $1,343,000 after buying an additional 1,247 shares during the period. Loudon Investment Management LLC boosted its stake in Public Storage by 25.5% in the 1st quarter. Accern also gave media stories about the real estate investment trust an impact score of 46.1434551144309 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company's share price in the next few days. Israel Discount Bank of NY bought a new stake in Public Storage during the Q1 valued $100,000. Morgan Stanley now owns 2,751,504 shares of the real estate investment trust's stock worth $602,333,000 after buying an additional 385,136 shares during the period. Currently, 52.28 million total shares are owned by the public and among those 34.11 million shares have been available to trade. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust's stock valued at $126,000 after buying an additional 5 shares during the period. The firm has a market cap of $35.79 billion, a price-to-earnings ratio of 29.34 and a beta of 0.42. The stock's 50 day moving average price is $203.40 and its 200-day moving average price is $213.30.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 26th. Analysts expect next quarter's EPS will be $2.01 with next year's EPS projected to be $7.82. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $626.27 million. Public Storage (PSA) has made its way to a 12-month decline of -5.16%. The real estate investment trust reported $1.59 earnings per share for the quarter, missing analysts' consensus estimates of $2.54 by $0.95. Equities research analysts predict that Public Storage will post $7.09 EPS for the current year. Additionally the company recently declared a dividend for shareholders payable on Thursday September 28th, 2017. The dividend payment will be $2.000 per share for the quarter which comes to $8.00 on an annualized basis. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage's payout ratio is now 113.96%.

A number of analysts have recently commented on PSA shares. Zacks Investment Research lowered shares of Public Storage from a "hold" rating to a "sell" rating in a report on Tuesday, July 11th. Finally, Barclays PLC dropped their price target on shares of Public Storage from $216.00 to $209.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 18th. ValuEngine lowered shares of Life Storage from a "buy" rating to a "hold" rating in a report on Friday, June 2nd. Jefferies reiterated a "hold" recommendation and fixed a $222.00 target price on the stock of Public Storage in a note on Fri, Jul 14th. On Wednesday, January 27 the stock rating was maintained by Argus Research with "Buy".

ILLEGAL ACTIVITY WARNING: "Pacad Investment Ltd". If you are accessing this story on another domain, it was illegally stolen and republished in violation of USA and worldwide trademark and copyright laws. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

In related news, CFO Andrew J. Gregoire acquired 1,500 shares of the business's stock in a transaction dated Monday, August 21st. The 50 day moving average went up $4.49 or +2.20% and the 200 day average moved down $-5.41. The disclosure for this purchase can be found here. BMO Capital Markets maintained Public Storage (NYSE:PSA) on Thursday, March 23 with "Hold" rating.

Other reports by Iphone Fresh

Discuss This Article