Calamos Advisors LLC Purchases 3,060 Shares of Public Storage (NYSE:PSA)

Calamos Advisors LLC increased its position in shares of Public Storage (NYSE:PSA) by 9.5% during the 3rd quarter, Holdings Channel reports. The firm owned 35,223 shares of the real estate investment trust’s stock after acquiring an additional 3,060 shares during the period. Calamos Advisors LLC’s holdings in Public Storage were worth $8,639,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PSA. Ashburton Jersey Ltd bought a new stake in shares of Public Storage during the 2nd quarter valued at $32,000. Manchester Financial Inc. purchased a new position in Public Storage during the second quarter valued at $34,000. Coastal Investment Advisors Inc. purchased a new position in Public Storage during the second quarter valued at $48,000. Liberty Wealth Management LLC grew its stake in Public Storage by 7,433.3% during the second quarter. Liberty Wealth Management LLC now owns 226 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 223 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in Public Storage during the third quarter valued at $66,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

In other Public Storage news, Chairman B Wayne Et Al Hughes sold 38,000 shares of Public Storage stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $257.89, for a total value of $9,799,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 278,000 shares of company stock valued at $72,725,820 over the last three months. Corporate insiders own 14.00% of the company’s stock.

Several research firms recently weighed in on PSA. SunTrust Banks raised their target price on shares of Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Barclays set a $256.00 target price on shares of Public Storage and gave the company a “sell” rating in a research note on Friday, October 11th. Argus raised their target price on shares of Public Storage to $290.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. They noted that the move was a valuation call. Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $247.14.

Shares of NYSE:PSA opened at $240.54 on Wednesday. Public Storage has a 52 week low of $193.89 and a 52 week high of $266.76. The stock has a market capitalization of $42.17 billion, a P/E ratio of 22.78, a PEG ratio of 5.60 and a beta of 0.11. The firm has a fifty day simple moving average of $248.02 and a two-hundred day simple moving average of $241.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.38.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.87). Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The business had revenue of $710.95 million during the quarter, compared to analysts’ expectations of $702.70 million. During the same period in the previous year, the business earned $2.57 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts expect that Public Storage will post 10.77 earnings per share for the current year.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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