Janus Henderson Group PLC Trims Stake in Public Storage $PSA

Janus Henderson Group PLC lessened its position in Public Storage (NYSE:PSA) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,768 shares of the real estate investment trust’s stock after selling 19,046 shares during the quarter. Janus Henderson Group PLC owned 0.14% of Public Storage worth $64,985,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC boosted its holdings in Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after acquiring an additional 3,763 shares during the period. Principal Financial Group Inc. grew its position in Public Storage by 5.3% in the 4th quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after acquiring an additional 12,444 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after purchasing an additional 9,618 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Public Storage by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after purchasing an additional 25,353 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Public Storage by 4.5% during the fourth quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock worth $506,487,000 after purchasing an additional 83,916 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their price target on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Truist Financial boosted their price objective on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Evercore set a $316.00 target price on shares of Public Storage in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $326.05.

Public Storage Trading Up 2.4%

Shares of NYSE PSA opened at $324.99 on Friday. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The firm has a market cap of $57.05 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 4.37 and a beta of 0.96. The business has a fifty day simple moving average of $317.75 and a two-hundred day simple moving average of $301.83. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, June 15th. Public Storage’s payout ratio is presently 114.50%.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Company 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.