Alliancebernstein LP Adjusts Its Investment in Public Storage (PSA) Stock

Public Storage is a real estate investment trust. US Bancorp DE's holdings in Life Storage were worth $964,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PSA. Nationwide Fund Advisors boosted its stake in Public Storage by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,708,728 shares of the real estate investment trust's stock valued at $127,111,000 after buying an additional 42,942 shares during the last quarter. Finally, Alpha Windward LLC boosted its position in Public Storage by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 629 shares of the real estate investment trust's stock worth $130,000 after buying an additional 3 shares during the last quarter. Mascoma Wealth Management LLC increased its stake in shares of Public Storage by 128.0% in the first quarter. Merriman Wealth Management LLC now owns 1,915 shares of the real estate investment trust's stock worth $419,000 after buying an additional 5 shares during the last quarter. Loudon Investment Management LLC boosted its stake in Public Storage by 25.5% in the first quarter. Vanguard Group Inc. now owns 21,494,458 shares of the real estate investment trust's stock valued at $1,598,973,000 after buying an additional 411,415 shares in the last quarter. Following the completion of the transaction, the director now owns 665,748 shares of the company's stock, valued at $52,654,009.32.

Public Storage (NYSE:PSA) opened at 200.88 on Thursday. The firm has a market capitalization of $9.59 billion, a PE ratio of 26.013 and a beta of 0.34. Public Storage has a one year low of $192.15 and a one year high of $233.39.

The stock last traded at $200.86 a tad below the 50 day moving average which is $206.45 and which is a tad under the 200 day moving average of $215.44.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $2.54 by $0.95. The company had revenue of $276 million for the quarter, compared to analyst estimates of $239.89 million. Life Storage had a net margin of 15.72% and a return on equity of 3.68%. The firm's revenue for the quarter was up 24.1% on a year-over-year basis. During the same quarter previous year, the business posted $2.40 earnings per share. On average, equities analysts anticipate that Extra Space Storage Inc will post $2.67 EPS for the current year. The company also recently declared a dividend for shareholders which will be paid on Thursday the 28th of September 2017. The dividend will be $2.000 per share for the quarter or $8.00 on an annualized basis. The ex-dividend date will be on Monday June 12th, 2017. Life Storage's dividend payout ratio (DPR) is now 347.83%.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by BBNS and is the sole property of of BBNS. The original version of this report can be accessed at https://www.com-unik.info/2017/08/11/apg-asset-management-us-inc-buys-136388-shares-of-public-storage-nysepsa-updated-updated.html.

LSI has been the topic of several research reports. Zacks Investment Research upgraded shares of Public Storage from a "sell" rating to a "hold" rating in a research report on Tuesday, July 4th.

July 18 investment analysts at Barclays left the company rating at "Equal-Weight" and moved down the price target from $254.00 to $209.00. 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. Wells Fargo & Company reiterated a "market perform" recommendation and fixed a $78.00 price target (down from $85.00) on stocks of Life Storage in a study report on Saturday, Jul 22nd. 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. On July 19 Barclays made no change to the company rating of "Equalweight" but raised the price expectation to $254.00 from $218.00.

In other Life Storage news, insider Paul T. Powell bought 700 shares of the business's stock in a transaction on Tuesday, May 9th. The stock was purchased at an average cost of $200.59 per share, for a total transaction of $401,180.00. The shares were sold at an average price of $208.44, for a total value of $13,548,600.00. The disclosure for this sale can be found here. 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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