Artisan Partners Limited Partnership Sells 10,455 Shares of Public Storage $PSA

Artisan Partners Limited Partnership cut its holdings in Public Storage (NYSE:PSA) by 6.9% in the third quarter, Holdings Channel reports. The fund owned 140,181 shares of the real estate investment trust’s stock after selling 10,455 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Public Storage were worth $40,491,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. DNB Asset Management AS raised its holdings in shares of Public Storage by 3.3% in the 3rd quarter. DNB Asset Management AS now owns 31,252 shares of the real estate investment trust’s stock valued at $9,027,000 after purchasing an additional 989 shares in the last quarter. Choreo LLC increased its holdings in Public Storage by 4.7% during the third quarter. Choreo LLC now owns 2,851 shares of the real estate investment trust’s stock valued at $823,000 after buying an additional 127 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Public Storage by 4.2% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 433,462 shares of the real estate investment trust’s stock valued at $125,205,000 after buying an additional 17,474 shares during the period. Intech Investment Management LLC raised its stake in Public Storage by 232.8% in the third quarter. Intech Investment Management LLC now owns 25,471 shares of the real estate investment trust’s stock worth $7,357,000 after buying an additional 17,818 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in Public Storage by 38.0% during the third quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock worth $330,909,000 after buying an additional 315,370 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSA. BMO Capital Markets cut their price target on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Public Storage in a research report on Friday, February 20th. BNP Paribas Exane cut their target price on Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Mizuho decreased their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Raymond James Financial lowered their price target on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $307.00.

Public Storage Trading Up 1.0%

Shares of NYSE:PSA opened at $306.98 on Friday. The business’s 50-day moving average is $282.18 and its 200 day moving average is $283.49. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The firm has a market capitalization of $53.88 billion, a P/E ratio of 34.03, a P/E/G ratio of 6.22 and a beta of 1.01. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s dividend payout ratio is 133.04%.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.