Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust's stock worth $126,000 after buying an additional 5 shares during the last quarter.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. Creative Planning now owns 2,410 shares of the real estate investment trust's stock valued at $198,000 after buying an additional 60 shares during the last quarter.
Alliancebernstein L.P. sold 3,085 shares last quarter decreasing its exposure to Public Storage by 0.7%. LS Investment Advisors LLC now owns 3,623 shares of the real estate investment trust's stock valued at $268,000 after buying an additional 470 shares during the last quarter. Merriman Wealth Management LLC increased its position in shares of Public Storage by 0.3% in the first quarter. Bank of Montreal Can now owns 14,028 shares of the real estate investment trust's stock valued at $1,153,000 after buying an additional 315 shares during the last quarter. The value of the total investment in Public Storage decreased from $27,528,000 to $25,444,000 a change of $2,084,000 quarter over quarter. The Gofen & Glossberg Llc holds 47,190 shares with $10.55 million value, up from 42,183 last quarter. Finally, US Bancorp DE raised its stake in shares of Public Storage by 1.9% in the second quarter. PGGM Investments now owns 1,890,000 shares of the real estate investment trust's stock valued at $147,420,000 after buying an additional 45,000 shares during the last quarter.
Public Storage (NYSE PSA) traded up 0.03% during trading on Thursday, hitting $200.95. Life Storage, has a 1 year low of $69.00 has a 1 year high of $95.05. The firm has a market capitalization of $34.91 billion, a price-to-earnings ratio of 28.62 and a beta of 0.41. The firm's 50-day moving average price is $206.45 and its 200 day moving average price is $215.43.
Life Storage (NYSE:LSI) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $2.54 by $0.95. The business had revenue of $132.78 million during the quarter, compared to analysts' expectations of $132.62 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. Life Storage's revenue for the quarter was up 24.1% compared to the same quarter past year. During the same period in the prior year, the company posted $2.40 earnings per share. Analysts expect next quarter's EPS to be $2.01 with next year's EPS projected to be $7.88.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. The ex-dividend date will be Monday June 12th, 2017. This dividend represents a yield of $3.99.
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A number of analysts have commented on PSA shares. Finally, Jefferies Group LLC reissued a "hold" rating and set a $222.00 price target on shares of Public Storage in a report on Friday, July 14th. Barclays Capital maintained Public Storage (NYSE:PSA) on Tuesday, July 18 with "Equal-Weight" rating. Zacks Investment Research cut shares of Public Storage from a "hold" rating to a "sell" rating in a report on Tuesday, July 11th. Cantor Fitzgerald decreased their price target on shares of Public Storage from $222.00 to $216.00 and set a "neutral" rating on the stock in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company's stock. Extra Space Storage now has an average rating of "Hold" and an average price target of $85.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The stock was bought at an average cost of $200.59 per share, for a total transaction of $401,180.00. The disclosure for this purchase can be found here.
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. Following the completion of the transaction, the director now owns 665,748 shares of the company's stock, valued at $52,654,009.32. 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.
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