Girard Partners LTD. reduced its position in Public Storage (NYSE:PSA) by 16.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,346 shares of the real estate investment trust’s stock after selling 477 shares during the period. Girard Partners LTD.’s holdings in Public Storage were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. AXA grew its holdings in Public Storage by 14.8% during the 3rd quarter. AXA now owns 37,589 shares of the real estate investment trust’s stock valued at $7,580,000 after buying an additional 4,840 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Public Storage during the 3rd quarter valued at about $358,000. Norinchukin Bank The grew its holdings in shares of Public Storage by 12.3% during the third quarter. Norinchukin Bank The now owns 20,363 shares of the real estate investment trust’s stock worth $4,106,000 after purchasing an additional 2,223 shares in the last quarter. Tobam grew its holdings in shares of Public Storage by 7.4% during the third quarter. Tobam now owns 211,187 shares of the real estate investment trust’s stock worth $42,582,000 after purchasing an additional 14,502 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd grew its holdings in shares of Public Storage by 76.7% during the third quarter. Redpoint Investment Management Pty Ltd now owns 22,671 shares of the real estate investment trust’s stock worth $4,571,000 after purchasing an additional 9,838 shares in the last quarter. Institutional investors and hedge funds own 81.25% of the company’s stock.

Several brokerages have recently commented on PSA. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, November 14th. Citigroup cut their price objective on Public Storage from $235.00 to $202.00 and set a “hold” rating for the company in a report on Friday, October 5th. Goldman Sachs Group lowered Public Storage from a “neutral” rating to a “sell” rating in a report on Wednesday, August 22nd. Barclays reissued a “hold” rating and set a $208.00 price objective on shares of Public Storage in a report on Wednesday, August 8th. Finally, BMO Capital Markets reissued a “sell” rating and set a $194.00 price objective on shares of Public Storage in a report on Wednesday, August 1st. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $205.54.

Shares of NYSE PSA opened at $212.06 on Tuesday. Public Storage has a 12 month low of $180.48 and a 12 month high of $234.90. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market cap of $36.86 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 4.18 and a beta of 0.13.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.85. The business had revenue of $706.37 million during the quarter, compared to analyst estimates of $704.51 million. Public Storage had a return on equity of 30.87% and a net margin of 55.38%. During the same quarter in the prior year, the firm earned $1.61 earnings per share. Sell-side analysts anticipate that Public Storage will post 10.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Wednesday, December 12th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.77%. The ex-dividend date is Tuesday, December 11th. Public Storage’s dividend payout ratio is currently 78.20%.

In other Public Storage news, CEO Ronald L. Havner, Jr. sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $211.54, for a total value of $21,154,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $203.35, for a total value of $1,016,750.00. Following the completion of the sale, the director now directly owns 8,350 shares of the company’s stock, valued at approximately $1,697,972.50. The disclosure for this sale can be found here. 14.00% of the stock is owned by corporate insiders.

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Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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