CI Investments Inc. Has $38.61 Million Stock Holdings in Public Storage $PSA

CI Investments Inc. boosted its stake in Public Storage (NYSE:PSA) by 15.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 133,659 shares of the real estate investment trust’s stock after buying an additional 17,504 shares during the period. CI Investments Inc. owned approximately 0.08% of Public Storage worth $38,607,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC acquired a new position in Public Storage in the 2nd quarter valued at $929,000. Assetmark Inc. grew its holdings in Public Storage by 11.0% in the 2nd quarter. Assetmark Inc. now owns 4,812 shares of the real estate investment trust’s stock valued at $1,412,000 after buying an additional 476 shares in the last quarter. IFG Advisory LLC increased its position in Public Storage by 5.1% during the 2nd quarter. IFG Advisory LLC now owns 1,117 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 54 shares during the period. Finally, iA Global Asset Management Inc. lifted its holdings in shares of Public Storage by 28.9% during the second quarter. iA Global Asset Management Inc. now owns 7,196 shares of the real estate investment trust’s stock worth $2,111,000 after buying an additional 1,615 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

Shares of NYSE:PSA opened at $305.59 on Wednesday. The firm has a 50 day moving average of $284.10 and a 200-day moving average of $283.87. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $53.63 billion, a PE ratio of 33.88, a PEG ratio of 6.30 and a beta of 0.99.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

Analyst Ratings Changes

PSA has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a report on Thursday, February 5th. Scotiabank raised their target price on shares of Public Storage from $300.00 to $319.00 and gave the stock a “sector outperform” rating in a report on Monday. Barclays set a $331.00 price target on shares of Public Storage in a research report on Tuesday, January 13th. Finally, Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $306.13.

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.