Health Care

Candriam Luxembourg SCA Acquires 701 Shares of Public Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. Creative Planning boosted its stake in Life Storage by 2.6% 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 in the last quarter. Quadrant Capital Group LLC boosted its stake in Public Storage by 0.5% in the first quarter. Loudon Investment Management LLC now owns 6,135 shares of the real estate investment trust's stock worth $1,343,000 after buying an additional 1,247 shares in the last quarter.

Sumitomo Mitsui Asset Management Company cut its position in stocks of Life Storage, (NYSE:LSI) by 4.0% through out the Fiscal Q2, based on the latest document with the SEC. Vanguard Group has an ownership of 7,298,673 stocks of the real estate investment trust's shares valued at $599,367,000 after scooping up an extra 179,513 shares through out the previous quarter, BlackRock raised its stake in Life Storage by 5,546.9% in the Q1. Loudon Investment Management LLC boosted its stake in Public Storage by 25.5% in the first quarter. The value of the investment in PSA went from $13,481,000 to $16,408,000 a change of 21.7% since the last quarter. Following the completion of the acquisition, the insider now directly owns 44,296 shares of the company's stock, valued at approximately $3,235,379.84.

Public Storage (NYSE:PSA) opened at 200.88 on Thursday.

The company now has a P/E ratio of 28.588 and the market cap of the company is 34.87B.

Company shares last traded at $200.86 which is marginally under the 50 day moving average of $206.45 and which is marginally lower than the 200 day moving average of $215.44. The stock of Public Storage (NYSE:PSA) has "Buy" rating given on Wednesday, September 9 by Argus Research. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Zacks' consensus estimate of $2.54 by $0.95. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business had revenue of $132.78 million for the quarter, compared to the consensus estimate of $132.62 million. The firm's revenue was up 5.0% compared to the same quarter previous year. On average, equities analysts anticipate that Extra Space Storage Inc will post $2.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th.

In other Public Storage news, insider John Reyes sold 60,000 shares of the business's stock in a transaction dated Tuesday, June 13th. This represents a $8.00 annualized dividend and a yield of 3.98%. Life Storage's dividend payout ratio (DPR) is now 347.83%.

TRADEMARK VIOLATION WARNING: This report was reported by Chaffey Breeze and is the property of of Chaffey Breeze.

TRADEMARK VIOLATION NOTICE: This news story was posted by Rincon Hill News and is owned by of Rincon Hill News. The original version of this piece can be read at

A commonly used tool among technical stock analysts is the moving average. Barclays PLC boosted their target price on shares of Public Storage from $222.00 to $224.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 19th. Lastly, Evercore ISI cut Life Storage from an "in-line" recommendation to an "underperform" recommendation and dropped their target price for the share from $77.00 to $71.00 in a study note on early Monday. Finally, 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. Finally, Citigroup Inc. restated a "buy" rating and issued a $92.00 target price (down previously from $100.00) on shares of Life Storage in a research note on Sunday, May 14th. Research firm Zacks lifted Life Storage from a "sell" recommendation to a "hold" recommendation in a analysis report on Saturday, Jun 3rd. Three 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. Public Storage has a consensus rating of "Hold" and a consensus target price of $221.64. The shares were purchased at an average price of $73.04 per share, with a total value of $51,128.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The shares were sold at an average price of $79.09, for a total value of $1,581,800.00. The disclosure for this sale can be found here. 590,457 shares of the company's stock traded hands.

The Company's divisions include Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc.

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