Public Storage (PSA) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in Public Storage (NYSE:PSA) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,816 shares of the real estate investment trust’s stock after selling 1,418 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Public Storage were worth $11,516,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Public Storage by 3.4% in the second quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after purchasing an additional 727,573 shares during the last quarter. BlackRock Inc. grew its position in Public Storage by 3.5% during the second quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock valued at $3,056,489,000 after acquiring an additional 489,998 shares during the last quarter. APG Asset Management US Inc. grew its position in Public Storage by 8.3% during the third quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock valued at $976,548,000 after acquiring an additional 350,712 shares during the last quarter. JPMorgan Chase & Co. grew its position in Public Storage by 41.3% during the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock valued at $950,191,000 after acquiring an additional 1,304,669 shares during the last quarter. Finally, Capital World Investors grew its position in Public Storage by 93.3% during the second quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock valued at $841,627,000 after acquiring an additional 1,948,000 shares during the last quarter. Institutional investors own 80.91% of the company’s stock.
PSA has been the topic of a number of recent research reports. KeyCorp reiterated a “sell” rating and set a $184.00 price target on shares of Public Storage in a research report on Wednesday, September 13th. B. Riley set a $220.00 price target on shares of Public Storage and gave the company a “hold” rating in a research report on Wednesday, November 15th. Evercore ISI reiterated an “underperform” rating and set a $204.00 price target (up from $197.00) on shares of Public Storage in a research report on Thursday, September 14th. SunTrust Banks reiterated a “hold” rating and set a $200.00 price target on shares of Public Storage in a research report on Friday, October 27th. Finally, Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $210.25.
In other news, insider John Reyes sold 60,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.42% of the company’s stock.
Public Storage (NYSE:PSA) traded up $2.50 during trading hours on Friday, hitting $210.84. The stock had a trading volume of 687,627 shares, compared to its average volume of 754,005. The stock has a market capitalization of $36,694.80, a price-to-earnings ratio of 21.28, a PEG ratio of 4.52 and a beta of 0.43. Public Storage has a 52-week low of $192.15 and a 52-week high of $232.21.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Tuesday, December 12th. Public Storage’s dividend payout ratio (DPR) is presently 116.79%.
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About Public Storage
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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