Public Storage (PSA) Position Raised by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. increased its holdings in shares of Public Storage (NYSE:PSA) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,907 shares of the real estate investment trust’s stock after purchasing an additional 3,480 shares during the period. Pictet Asset Management Ltd. owned approximately 0.06% of Public Storage worth $22,235,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSA. OppenheimerFunds Inc. grew its stake in Public Storage by 9.0% during the first quarter. OppenheimerFunds Inc. now owns 1,474 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 122 shares during the period. Gotham Asset Management LLC grew its stake in Public Storage by 241.9% in the first quarter. Gotham Asset Management LLC now owns 3,795 shares of the real estate investment trust’s stock valued at $831,000 after acquiring an additional 2,685 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Public Storage in the first quarter valued at approximately $500,000. DnB Asset Management AS grew its stake in Public Storage by 26.3% in the second quarter. DnB Asset Management AS now owns 19,689 shares of the real estate investment trust’s stock valued at $4,106,000 after acquiring an additional 4,100 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Public Storage in the second quarter valued at approximately $417,000. 80.38% of the stock is owned by institutional investors and hedge funds.
PSA has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Public Storage in a research note on Monday, September 11th. They issued an “underperform” rating and a $193.00 price objective for the company. FBR & Co set a $220.00 price objective on Public Storage and gave the company a “hold” rating in a research note on Thursday, October 26th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $200.00 price objective on shares of Public Storage in a research note on Friday, October 27th. Evercore ISI reissued an “underperform” rating and issued a $204.00 price objective (up previously from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Finally, Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $212.45.
Public Storage (PSA) opened at $208.97 on Friday. The stock has a market capitalization of $36,361.20, a P/E ratio of 21.09, a P/E/G ratio of 4.35 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 business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.83%. Public Storage’s payout ratio is 116.79%.
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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