PHH Investments Ltd. Reduces Position in Public Storage

18 Août, 2017, 05:31 | Author: Marc Bacque

It also increased its holding in Verizon Communications Inc (NYSE:VZ) by 223,466 shares in the quarter, for a total of 1.06M shares, and has risen its stake in Vonage Hldgs Corp (NYSE:VG). The firm owned 12,412 shares of the real estate investment trust's stock after buying an additional 3,348 shares during the period. IFP Advisors Inc's holdings in Public Storage were worth $2,588,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Public Storage by 1.8% in the first quarter. Daiwa Securities Group Inc. now owns 2,034,261 shares of the real estate investment trust's stock valued at $445,320,000 after buying an additional 1,063,521 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Public Storage by 0.3% in the second quarter. TD Asset Management Inc. now owns 113,095 shares of the real estate investment trust's stock worth $23,583,000 after buying an additional 46,262 shares in the last quarter. TD Asset Management Inc. increased its position in Public Storage by 69.2% in the second quarter. Capstone Asset Management Co. now owns 5,483 shares of the real estate investment trust's stock worth $450,000 after buying an additional 460 shares during the last quarter. Morgan Stanley boosted its position in shares of Public Storage by 16.3% in the first quarter. US Bancorp DE now owns 42,455 shares of the real estate investment trust's stock valued at $9,294,000 after buying an additional 4,220 shares in the last quarter. The firm now has a neutral rating on the real estate investment trust's stock. BB&T Capital initiated Public Storage (NYSE:PSA) rating on Wednesday, November 11. The stock has a market capitalization of $35.08 billion, a P/E ratio of 28.76 and a beta of 0.41. Public Storage has a 52-week low of $192.15 and a 52-week high of $233.39. (EXR)'s latest closing price distance was 0.40% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -1.76% and -2.69% compared with the 20 Day Moving Average.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $2.54 by $0.95. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $626.27 million. Life Storage had a return on equity of 2.56% and a net margin of 10.28%. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period past year, the firm posted $1.32 earnings per share. On average, equities research analysts anticipate that Public Storage will post $7.09 earnings per share for the current year. Stockholders of record on Wednesday, September 13th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, July 13th. Robert W. Baird upgraded Public Storage (NYSE:PSA) on Thursday, January 7 to "Outperform" rating.

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PSA has been the topic of several research analyst reports.

Life Storage (NYSE LSI) traded down 0.83% during midday trading on Wednesday, reaching $72.08. Public Storage had 47 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies Group LLC restated a "hold" rating and set a $222.00 price objective on shares of Public Storage in a research report on Friday, July 14th. Bank of America Corporation reduced their price objective on shares of Public Storage from $222.00 to $218.00 and set a "neutral" rating for the company in a research report on Thursday, July 20th. Argus cut their price target on Public Storage from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Tuesday, August 1st. Out of 4 Wall Street analysts rating Coty, 2 give it "Buy", 1 "Sell" rating, while 1 recommend "Hold". The company now has an average rating of "Hold" and an average target price of $221.64.

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. The Company acquires, owns and manages self-storage properties.

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