Ownership Action Don’t Lie: Public Storage (NYSE:PSA) Institutional Investors Sentiment Unchanged in Q2 2016

November 28, 2016 - By Hazel Jackson   ·   0 Comments

Ownership Action Don't Lie: Public Storage (NYSE:PSA) Institutional Investors Sentiment Unchanged in  Q2 2016

Sentiment for Public Storage (NYSE:PSA)

Public Storage (NYSE:PSA) institutional sentiment decreased to 0.91 in 2016 Q2. Its down -0.19, from 1.1 in 2016Q1. The ratio worsened, as 265 hedge funds increased or started new positions, while 240 sold and trimmed holdings in Public Storage. The hedge funds in our partner’s database now own: 132.12 million shares, down from 147.82 million shares in 2016Q1. Also, the number of hedge funds holding Public Storage in their top 10 positions decreased from 28 to 21 for a decrease of 7. Sold All: 42 Reduced: 198 Increased: 195 New Position: 70.

Public Storage is a real estate investment trust. The company has a market cap of $35.85 billion. The Company’s business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space. It has a 31.54 P/E ratio. It operates through Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. and Investment in Shurgard Europe divisions.

The stock increased 0.47% or $0.97 during the last trading session, hitting $205.73. About 50 shares traded hands. Public Storage (NYSE:PSA) has declined 20.41% since April 25, 2016 and is downtrending. It has underperformed by 26.42% the S&P500.

Analysts await Public Storage (NYSE:PSA) to report earnings on February, 21. They expect $2.65 EPS, up 8.16% or $0.20 from last year’s $2.45 per share. PSA’s profit will be $461.78 million for 19.41 P/E if the $2.65 EPS becomes a reality. After $2.51 actual EPS reported by Public Storage for the previous quarter, Wall Street now forecasts 5.58% EPS growth.

According to Zacks Investment Research, “Public Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters is located in Glendale, California. Public Storage is America’s premier storage company. Over the past three decades, the company has shown consistent growth in the number of properties owned, as well as in the range of services provided.”

Van Hulzen Asset Management Llc holds 1.03% of its portfolio in Public Storage for 72,123 shares. Roundview Capital Llc owns 31,690 shares or 0.29% of their US portfolio. Moreover, Roosevelt Investment Group Inc has 0.23% invested in the company for 116,556 shares. The Maryland-based Fulton Breakefield Broenniman Llc has invested 0.18% in the stock. Spirit Of America Management Corp Ny, a New York-based fund reported 32,490 shares.#img1#

Public Storage (NYSE:PSA) Ratings Coverage

Ratings analysis reveals 19% of Public Storage’s analysts are positive. Out of 16 Wall Street analysts rating Public Storage, 3 give it “Buy”, 2 “Sell” rating, while 11 recommend “Hold”. The lowest target is $200 while the high is $275. The stock’s average target of $232.50 is 13.01% above today’s ($205.73) share price. PSA was included in 38 notes of analysts from July 21, 2015. Barclays Capital downgraded it to “Equal-Weight” rating and $218 target price in Tuesday, January 26 report. As per Thursday, January 7, the company rating was downgraded by Raymond James. The rating was upgraded by Raymond James to “Outperform” on Friday, September 4. The firm earned “Hold” rating on Monday, August 22 by Evercore. The stock of Public Storage (NYSE:PSA) has “Neutral” rating given on Thursday, December 17 by JP Morgan. The firm earned “Neutral” rating on Monday, October 31 by Goldman Sachs. The rating was maintained by Jefferies on Wednesday, August 10 with “Hold”. The firm earned “Buy” rating on Monday, November 16 by Argus Research. Goldman Sachs downgraded the stock to “Neutral” rating in Monday, January 4 report. The firm earned “Underweight” rating on Friday, July 15 by KeyBanc Capital Markets.

PSA Company Profile

Public Storage, incorporated on March 13, 2007, is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space. The Firm operates through Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. (PSB) and Investment in Shurgard Europe divisions. The Firm also has direct and indirect equity interests in approximately 30 million net rentable square feet of commercial space located in over nine states in the United States primarily owned and operated by PSB under the PS Business Parks name. The Firm manages approximately 30 self-storage facilities for third parties, and has equity interests in and manages over 12 additional self-storage facilities.

More important recent Public Storage (NYSE:PSA) news were published by: Realmoney.Thestreet.com which released: “Stock Up on Public Storage at These Levels” on November 02, 2016, also Nasdaq.com published article titled: “Director at Public Storage buys 69763 shares”, Seekingalpha.com published: “Public Storage Preferred For Parking Cash” on November 09, 2016. More interesting news about Public Storage (NYSE:PSA) was released by: Stltoday.com and their article: “PUBLIC STORAGE INC-REGIONL – Ad from 2016-11-18” with publication date: November 18, 2016.

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By Hazel Jackson

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