Hill Winds Capital LP Buys Shares of 34,500 Public Storage (NYSE:PSA)

Hill Winds Capital LP bought a new stake in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 34,500 shares of the real estate investment trust’s stock, valued at approximately $7,347,000. Public Storage accounts for about 5.0% of Hill Winds Capital LP’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Cetera Advisors LLC grew its position in shares of Public Storage by 2.2% during the 4th quarter. Cetera Advisors LLC now owns 2,233 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 47 shares in the last quarter. San Francisco Sentry Investment Group CA grew its position in Public Storage by 9.4% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 556 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 48 shares in the last quarter. Carnegie Capital Asset Management LLC grew its position in Public Storage by 1.7% in the third quarter. Carnegie Capital Asset Management LLC now owns 3,046 shares of the real estate investment trust’s stock worth $747,000 after acquiring an additional 50 shares in the last quarter. Brighton Jones LLC grew its position in Public Storage by 4.1% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the real estate investment trust’s stock worth $270,000 after acquiring an additional 50 shares in the last quarter. Finally, Tower View Investment Management & Research LLC grew its position in Public Storage by 8.5% in the fourth quarter. Tower View Investment Management & Research LLC now owns 757 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 59 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

NYSE PSA traded down $16.92 during trading on Thursday, hitting $211.31. 1,764,702 shares of the company’s stock traded hands, compared to its average volume of 991,325. The stock has a fifty day moving average of $223.12 and a two-hundred day moving average of $230.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 1.22. Public Storage has a 12-month low of $202.84 and a 12-month high of $266.76. The firm has a market cap of $38.58 billion, a P/E ratio of 28.99, a PEG ratio of 5.90 and a beta of 0.08.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.86 by ($0.99). Public Storage had a net margin of 53.41% and a return on equity of 30.11%. The business had revenue of $717.50 million for the quarter, compared to analysts’ expectations of $723.13 million. During the same quarter in the previous year, the company earned $2.17 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts expect that Public Storage will post 10.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, March 13th. This represents a $8.00 annualized dividend and a yield of 3.79%. Public Storage’s payout ratio is 74.42%.

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Public Storage from $266.00 to $255.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley cut their target price on shares of Public Storage from $240.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Wells Fargo & Co lowered shares of Public Storage from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $230.00 to $202.00 in a research report on Tuesday, December 10th. BMO Capital Markets reiterated a “sell” rating and issued a $205.00 target price on shares of Public Storage in a research report on Sunday, February 16th. Finally, Argus cut their target price on shares of Public Storage from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Public Storage currently has an average rating of “Hold” and an average target price of $233.62.

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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