20,026 Shares in Public Storage (PSA) Purchased by Amica Mutual Insurance Co.
Amica Mutual Insurance Co. purchased a new stake in Public Storage (NYSE:PSA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,026 shares of the real estate investment trust’s stock, valued at approximately $4,285,000.
A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Capital World Investors increased its position in Public Storage by 93.3% during the 2nd quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock worth $841,627,000 after buying an additional 1,948,000 shares during the period. Vanguard Group Inc. increased its position in Public Storage by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after buying an additional 727,573 shares during the period. Epoch Investment Partners Inc. increased its position in Public Storage by 3,791.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock worth $133,832,000 after buying an additional 625,297 shares during the period. JPMorgan Chase & Co. increased its position in Public Storage by 20.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock worth $659,280,000 after buying an additional 537,289 shares during the period. Finally, Koch Industries Inc. increased its position in Public Storage by 49,832.6% during the 2nd quarter. Koch Industries Inc. now owns 525,291 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 524,239 shares during the period. Institutional investors and hedge funds own 80.31% of the company’s stock.
Several research analysts have weighed in on the company. Barclays PLC reiterated a “hold” rating and set a $207.00 price objective on shares of Public Storage in a research report on Thursday, October 19th. BMO Capital Markets initiated coverage on Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 target price on the stock. B. Riley set a $220.00 target price on Public Storage and gave the stock a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Finally, Evercore ISI reissued an “underperform” rating and set a $204.00 target price (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. Four 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. The company currently has a consensus rating of “Hold” and a consensus target price of $213.08.
Shares of Public Storage (PSA) traded down $0.03 during mid-day trading on Friday, reaching $211.29. The company’s stock had a trading volume of 512,000 shares, compared to its average volume of 849,085. The company has a market capitalization of $36,773.12, a P/E ratio of 21.32, a P/E/G ratio of 4.41 and a beta of 0.43. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.79%. Public Storage’s dividend payout ratio (DPR) is presently 116.79%.
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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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