Janus Henderson Group PLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 33.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,444 shares of the real estate investment trust’s stock after selling 47,429 shares during the quarter. Janus Henderson Group PLC owned approximately 0.05% of Public Storage worth $18,639,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. AXA lifted its holdings in shares of 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 during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Public Storage during the 3rd quarter valued at about $358,000. Norinchukin Bank The lifted its holdings in shares of Public Storage by 12.3% during the 3rd quarter. Norinchukin Bank The now owns 20,363 shares of the real estate investment trust’s stock valued at $4,106,000 after buying an additional 2,223 shares during the last quarter. Tobam lifted its holdings in shares of Public Storage by 7.4% during the 3rd quarter. Tobam now owns 211,187 shares of the real estate investment trust’s stock valued at $42,582,000 after buying an additional 14,502 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd lifted its holdings in shares of Public Storage by 76.7% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 22,671 shares of the real estate investment trust’s stock valued at $4,571,000 after buying an additional 9,838 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.
In other news, 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 transaction of $1,016,750.00. Following the completion of the transaction, the director now directly owns 8,350 shares in the company, valued at $1,697,972.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 14.00% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Citigroup reduced their price target on Public Storage from $235.00 to $202.00 and set a “hold” rating for the company in a report on Friday, October 5th. Finally, Goldman Sachs Group lowered Public Storage from a “neutral” rating to a “sell” rating in a report on Wednesday, August 22nd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Public Storage has an average rating of “Hold” and a consensus price target of $205.58.
PSA opened at $214.14 on Friday. Public Storage has a twelve month low of $180.48 and a twelve month high of $234.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 1.06. The company has a market capitalization of $37.70 billion, a P/E ratio of 20.44, a P/E/G ratio of 4.27 and a beta of 0.18.
Public Storage (NYSE:PSA) last posted its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.85. Public Storage had a return on equity of 30.87% and a net margin of 55.38%. The firm had revenue of $706.37 million during the quarter, compared to analyst estimates of $704.51 million. During the same period in the previous year, the company earned $1.61 EPS. Equities analysts expect that Public Storage will post 10.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.74%. Public Storage’s dividend payout ratio (DPR) is presently 78.20%.
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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 September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 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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