Mackay Shields LLC trimmed its holdings in Public Storage (NYSE:PSA) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,155 shares of the real estate investment trust’s stock after selling 21,798 shares during the quarter. Mackay Shields LLC’s holdings in Public Storage were worth $15,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. increased its position in Public Storage by 1.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 4,516 shares of the real estate investment trust’s stock valued at $914,000 after buying an additional 59 shares in the last quarter. Barings LLC increased its position in Public Storage by 1.6% in the 4th quarter. Barings LLC now owns 4,248 shares of the real estate investment trust’s stock valued at $860,000 after buying an additional 68 shares in the last quarter. JOYN Advisors Inc. increased its position in Public Storage by 38.9% in the 4th quarter. JOYN Advisors Inc. now owns 243 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 68 shares in the last quarter. Lourd Capital LLC increased its position in Public Storage by 2.7% in the 4th quarter. Lourd Capital LLC now owns 2,695 shares of the real estate investment trust’s stock valued at $545,000 after buying an additional 70 shares in the last quarter. Finally, NuWave Investment Management LLC increased its position in Public Storage by 2.7% in the 4th quarter. NuWave Investment Management LLC now owns 2,915 shares of the real estate investment trust’s stock valued at $590,000 after buying an additional 77 shares in the last quarter. 80.16% of the stock is currently owned by institutional investors.

Shares of PSA opened at $217.62 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $38.09 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 4.38 and a beta of 0.26. Public Storage has a 52 week low of $192.02 and a 52 week high of $234.90.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Tuesday, March 12th.

A number of analysts recently commented on the company. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Barclays reaffirmed a “hold” rating and issued a $215.00 target price on shares of Public Storage in a research report on Thursday, March 7th. Bank of America set a $230.00 target price on Public Storage and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group lowered Public Storage from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $202.00 to $175.00 in a report on Thursday, December 13th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Public Storage currently has an average rating of “Hold” and a consensus price target of $209.50.

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Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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