Public Storage $PSA Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lessened its position in shares of Public Storage (NYSE:PSA) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 711,333 shares of the real estate investment trust’s stock after selling 58,460 shares during the period. Public Storage makes up 2.3% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 18th biggest position. Montrusco Bolton Investments Inc. owned about 0.41% of Public Storage worth $199,714,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. lifted its position in Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 36 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 37 shares during the period. KCM Investment Advisors LLC lifted its position in shares of Public Storage by 2.9% during the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock worth $396,000 after purchasing an additional 38 shares in the last quarter. Cape ANN Savings Bank lifted its holdings in Public Storage by 1.4% in the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock worth $807,000 after buying an additional 38 shares in the last quarter. Finally, NewSquare Capital LLC increased its position in shares of Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Down 1.7%

Shares of NYSE:PSA opened at $298.89 on Thursday. Public Storage has a twelve month low of $256.54 and a twelve month high of $322.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a market cap of $52.46 billion, a P/E ratio of 33.14, a P/E/G ratio of 6.15 and a beta of 1.01. The company has a 50 day moving average of $280.39 and a 200-day moving average of $283.14.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 4.0%. Public Storage’s payout ratio is 133.04%.

Analysts Set New Price Targets

A number of research analysts have commented on PSA shares. Deutsche Bank Aktiengesellschaft downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective on the stock. in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Mizuho lowered their price target on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Evercore set a $302.00 price objective on Public Storage in a research note on Tuesday, February 17th. Finally, UBS Group lowered their target price on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $307.00.

Public Storage 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.