Caisse DE Depot ET Placement DU Quebec decreased its holdings in shares of Public Storage (NYSE:PSA) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,052 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Public Storage were worth $3,355,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. boosted its holdings in Public Storage by 1.3% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 130,513 shares of the real estate investment trust’s stock worth $27,929,000 after acquiring an additional 1,713 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Public Storage by 34.5% in the third quarter. Janus Henderson Group PLC now owns 139,384 shares of the real estate investment trust’s stock worth $29,821,000 after acquiring an additional 35,776 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Public Storage by 14.6% in the fourth quarter. Wells Fargo & Company MN now owns 620,227 shares of the real estate investment trust’s stock worth $129,627,000 after acquiring an additional 79,046 shares in the last quarter. Trust Co bought a new position in Public Storage in the third quarter worth approximately $294,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in Public Storage by 13.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 872,138 shares of the real estate investment trust’s stock worth $182,277,000 after acquiring an additional 106,063 shares in the last quarter. Institutional investors own 81.75% of the company’s stock.
Shares of Public Storage (PSA) opened at $199.41 on Tuesday. The company has a market capitalization of $34,710.00, a P/E ratio of 29.63, a PEG ratio of 3.95 and a beta of 0.31. Public Storage has a 52 week low of $180.48 and a 52 week high of $232.21.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, March 13th. Public Storage’s payout ratio is 118.87%.
Several research analysts have issued reports on the company. Jefferies Group set a $212.00 price target on Public Storage and gave the stock a “hold” rating in a report on Tuesday, November 28th. Morgan Stanley lowered Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price target on the stock. in a report on Wednesday, December 13th. Citigroup cut their price target on Public Storage from $220.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, March 1st. Barclays reiterated a “hold” rating and issued a $201.00 price target on shares of Public Storage in a report on Wednesday, January 31st. Finally, Robert W. Baird lowered Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price target on the stock. in a report on Tuesday, November 28th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $204.43.
In related news, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the sale, the director now directly owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.42% of the company’s stock.
Public Storage Profile
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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