Public Storage (PSA) Holdings Raised by Prudential Financial Inc.
Prudential Financial Inc. grew its holdings in Public Storage (NYSE:PSA) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 456,377 shares of the real estate investment trust’s stock after acquiring an additional 24,115 shares during the quarter. Prudential Financial Inc. owned 0.26% of Public Storage worth $97,660,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Public Storage by 15.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 75 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in shares of Public Storage by 274.4% during the second quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 450 shares in the last quarter. Cable Hill Partners LLC grew its holdings in shares of Public Storage by 139.9% during the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 459 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Public Storage by 23.8% during the second quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 170 shares in the last quarter. Finally, BB&T Investment Services Inc. bought a new position in shares of Public Storage during the second quarter worth about $198,000. Institutional investors own 80.64% of the company’s stock.
In other Public Storage news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $212.24, for a total value of $12,734,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary E. Pruitt sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The disclosure for this sale can be found here. 14.42% of the stock is owned by company insiders.
PSA has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. KeyCorp reiterated a “sell” rating and set a $184.00 price objective on shares of Public Storage in a report on Wednesday, September 13th. Evercore ISI reiterated an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Finally, Barclays reiterated a “hold” rating and set a $207.00 price objective on shares of Public Storage in a report on Thursday, October 19th. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Public Storage has an average rating of “Hold” and a consensus price target of $209.38.
Public Storage (PSA) opened at $206.77 on Thursday. The firm has a market capitalization of $35,990.00, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 4.32 and a beta of 0.44. Public Storage has a one year low of $192.15 and a one year high of $232.21.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.87%. Public Storage’s dividend payout ratio is 116.96%.
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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