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Keeping Up on Public Storage (PSA)'s Technicals: Where to From Here?

11 Août 2017

Vanguard Group raised its stake in Life Storage by 2.5% in the Q1.

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. As of the latest earnings report the EPS was $7.01 and is expected to be $7.09 for the current year with 174,002,000 shares now outstanding. APG Asset Management US Inc. owned approximately 1.32% of Life Storage worth $45,460,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Nationwide Fund Advisors boosted its position in Public Storage by 2.1% in the first quarter. Nationwide Fund Advisors now owns 109,985 shares of the real estate investment trust's stock worth $24,077,000 after buying an additional 2,224 shares in the last quarter. State Treasurer State of MI now owns 19,200 shares of the real estate investment trust's stock worth $1,423,000 after buying an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Life Storage by 19.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 200,903 shares of the real estate investment trust's stock worth $43,979,000 after buying an additional 91,451 shares in the last quarter. Loudon Investment Management LLC now owns 6,135 shares of the real estate investment trust's stock valued at $1,343,000 after buying an additional 1,247 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Public Storage by 0.4% 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. 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.

Shares of Life Storage, Inc.

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Life Storage, (LSI) declined 0.79% throughout intraday market trading on Early Thur, reaching $72.39. the firms shares had a trading volume of 48,394 Stocks. The stock has a 50 day moving average price of $206.11 and a 200 day moving average price of $215.33. Extra Space Storage Inc has a 12 month low of $68.09 and a 12 month high of $85.12. The stock has a market cap of $34.97 billion, a P/E ratio of 28.67 and a beta of 0.41. The stock of Public Storage (NYSE:PSA) earned "Hold" rating by Jefferies on Wednesday, August 10. 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. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $626.27 million. Life Storage had a net margin of 10.28% and a return on equity of 2.56%. The firm's revenue was up 5.0% compared to the same quarter previous year. The original version of this report can be viewed at https://weekherald.com/2017/08/11/public-storage-to-post-fy2017-earnings-of-9-95-per-share-keycorp-forecasts-psa.html. The company also recently declared a dividend for shareholders which will be paid on Thursday the 28th of September 2017. Investors of record on Wednesday, September 13th will be given a dividend of $2.00 per share. The ex-dividend date has been established as Monday the 12th of June 2017. This represents a $4.00 dividend on an annualized basis and a yield of 5.48%. Public Storage's payout ratio is 113.96%. National Pension Service boosted its position in Public Storage by 8.7% in the first quarter. "(NYSE:LSI)" was first reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this report on another site, it was stolen and republished in violation of United States & global copyright & trademark law.

A number of brokerages recently issued reports on PSA. Zacks Investment Research upgraded Life Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, May 24th. Bank of America Corporation decreased their price target on shares of Public Storage from $222.00 to $218.00 and set a "neutral" rating on the stock in a report on Thursday, July 20th. TheStreet downgraded Life Storage from a "b-" rating to a "c+" rating in a research report on Monday, June 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has 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.

Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate company. Corporate insiders own 14.42% of the company's stock.

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