Renaissance Technologies LLC reduced its position in shares of Public Storage (NYSE:PSA) by 90.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 613,500 shares of the real estate investment trust's stock at the end of the second quarter. Private Asset Management Inc. raised its stake in shares of Public Storage by 6.3% in the first quarter.
A number of other hedge funds have also recently added to or reduced their stakes in LSI. Guardian Life Insurance Co. of America increased its stake in shares of Public Storage by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 46,110 shares of the real estate investment trust's stock valued at $10,093,000 after buying an additional 600 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Public Storage by 3.3% in the first quarter. Mason Street Advisors LLC now owns 20,636 shares of the real estate investment trust's stock worth $4,517,000 after buying an additional 232 shares in the last quarter.
APG Asset Management US Inc. held its stake in Life Storage, Inc. Patriot Wealth Management Inc. now owns 37,969 shares of the real estate investment trust's stock worth $7,918,000 after buying an additional 1,230 shares during the period. State Treasurer State of MI increased its stake in Life Storage by 1.6% in the second quarter. Finally, US Bancorp DE raised its stake in shares of Public Storage by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 629 shares of the real estate investment trust's stock valued at $130,000 after buying an additional 3 shares in the last quarter. Institutional investors own 78.87% of the company's stock.
Shares of Life Storage, Inc. Gofen & Glossberg Llc acquired 5,007 shares as Public Storage (PSA)'s stock declined 5.00%. The stock's 50-day moving average price is $73.95 and its 200 day moving average price is $79.50. Public Storage has a 12 month low of $192.15 and a 12 month high of $233.39. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 63.15 and a beta of 0.56.
Life Storage (NYSE:LSI) last announced its quarterly earnings results on Wednesday, August 2nd. BlackRock Inc. now owns 11,742,847 shares of the real estate investment trust's stock valued at $873,550,000 after buying an additional 11,264,744 shares during the last quarter. The company had revenue of $132.78 million during the quarter, compared to analyst estimates of $132.62 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The business's revenue was up 24.1% compared to the same quarter past year. During the same quarter in the prior year, the company posted $1.32 earnings per share. Equities research analysts anticipate that Public Storage will post $7.09 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be given a dividend of $2.00 per share. The ex-dividend date will be Monday the 12th of June 2017. This dividend represents a yield of $3.99.
Turning to some other technicals, Public Storage (PSA)'s Williams Percent Range or 14 day Williams %R presently is at -55.36. National Pension Service boosted its position in Public Storage by 8.7% in the first quarter. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & global copyright & trademark legislation. The correct version of this news story can be viewed at https://sportsperspectives.com/2017/08/10/public-storage-psa-downgraded-to-strong-sell-at-bidaskclub-updated.html.
Several brokerages recently issued reports on LSI.
On August 22 the company was changed to a "Hold" in a report from Evercore ISI Group which is up from the previous "Sell" rating. Barclays PLC lowered their target price on shares of Public Storage from $216.00 to $209.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 18th. Finally, Bank of America Corporation dropped their target price on Public Storage from $222.00 to $218.00 and set a "neutral" rating for the company in a report on Thursday, July 20th. Argus decreased their price target on shares of Public Storage from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. The company now has an average rating of "Hold" and a consensus target price of $221.64.
The Company's divisions include Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States.