Public Storage (PSA) Shares Sold by Peregrine Asset Advisers Inc.
Peregrine Asset Advisers Inc. lowered its stake in shares of Public Storage (NYSE:PSA) by 25.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,177 shares of the real estate investment trust’s stock after selling 400 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Public Storage were worth $252,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PSA. BB&T Corp purchased a new position in Public Storage in the 2nd quarter valued at approximately $509,000. LGT Capital Partners LTD. boosted its position in Public Storage by 16.0% in the 2nd quarter. LGT Capital Partners LTD. now owns 32,370 shares of the real estate investment trust’s stock valued at $6,750,000 after buying an additional 4,470 shares during the period. Hartford Investment Management Co. boosted its position in Public Storage by 6.8% in the 2nd quarter. Hartford Investment Management Co. now owns 53,337 shares of the real estate investment trust’s stock valued at $11,122,000 after buying an additional 3,401 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in Public Storage by 2.7% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 206,313 shares of the real estate investment trust’s stock valued at $43,022,000 after buying an additional 5,410 shares during the period. Finally, Moody Lynn & Lieberson LLC purchased a new position in Public Storage in the 2nd quarter valued at approximately $842,000. 80.31% of the stock is owned by hedge funds and other institutional investors.
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PSA has been the topic of a number of analyst reports. SunTrust Banks, Inc. restated a “hold” rating and issued a $200.00 price objective on shares of Public Storage in a report on Friday, October 27th. FBR & Co set a $220.00 price objective on shares of Public Storage and gave the company a “hold” rating in a report on Thursday, October 26th. BMO Capital Markets initiated coverage on shares of Public Storage in a report on Monday, September 11th. They issued an “underperform” rating and a $193.00 price objective on the stock. Evercore ISI restated an “underperform” rating and issued a $204.00 price objective (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. Finally, BidaskClub lowered shares of Public Storage from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $213.08.
Public Storage (NYSE:PSA) traded down $0.03 during midday trading on Friday, reaching $211.29. 512,000 shares of the company’s stock were exchanged, compared to its average volume of 849,085. The firm has a market capitalization of $36,773.12, a price-to-earnings ratio of 21.32, a PEG ratio of 4.41 and a beta of 0.43. Public Storage has a one year low of $192.15 and a one year high of $232.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.79%. Public Storage’s dividend payout ratio is presently 116.79%.
About Public Storage
Public Storage is a real estate investment trust (REIT). 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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