Public Storage (PSA) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board grew its position in Public Storage (NYSE:PSA) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 188,426 shares of the real estate investment trust’s stock after buying an additional 9,276 shares during the period. State of Wisconsin Investment Board owned 0.11% of Public Storage worth $40,321,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. increased its stake in shares of Public Storage by 2.0% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 25,820 shares of the real estate investment trust’s stock valued at $5,525,000 after buying an additional 500 shares during the period. BT Investment Management Ltd increased its stake in shares of Public Storage by 2.6% in the 3rd quarter. BT Investment Management Ltd now owns 43,214 shares of the real estate investment trust’s stock valued at $9,249,000 after buying an additional 1,101 shares during the period. Brookstone Capital Management acquired a new stake in shares of Public Storage in the 3rd quarter valued at $313,000. Forsta AP Fonden increased its stake in shares of Public Storage by 32.2% in the 3rd quarter. Forsta AP Fonden now owns 60,800 shares of the real estate investment trust’s stock valued at $13,011,000 after buying an additional 14,800 shares during the period. Finally, First Merchants Corp acquired a new stake in shares of Public Storage in the 3rd quarter valued at $428,000. 80.42% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the company. BMO Capital Markets set a $193.00 target price on Public Storage and gave the company a “sell” rating in a research note on Thursday, October 26th. FBR & Co set a $220.00 target price on Public Storage and gave the company a “hold” rating in a research note on Thursday, October 26th. KeyCorp reissued a “sell” rating and issued a $184.00 target price on shares of Public Storage in a research note on Wednesday, September 13th. Evercore ISI reissued an “underperform” rating and issued a $204.00 target price (up from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Finally, Barclays PLC lowered their target price on Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Public Storage currently has an average rating of “Hold” and an average target price of $212.45.
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Public Storage (NYSE PSA) opened at $211.49 on Wednesday. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21. The stock has a market capitalization of $36,366.84, a PE ratio of 21.12, a price-to-earnings-growth ratio of 4.35 and a beta of 0.43.
The firm also recently announced 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 3.78%. Public Storage’s payout ratio is 116.79%.
Public Storage Company 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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