Swiss National Bank decreased its stake in shares of Public Storage (NYSE:PSA) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 642,835 shares of the real estate investment trust’s stock after selling 8,700 shares during the period. Swiss National Bank owned about 0.37% of Public Storage worth $143,442,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Washington Trust Bank boosted its position in Public Storage by 7.4% in the second quarter. Washington Trust Bank now owns 420 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 29 shares in the last quarter. Merriman Wealth Management LLC bought a new position in Public Storage during the second quarter valued at approximately $268,000. DNB Asset Management AS boosted its position in Public Storage by 2.5% in the second quarter. DNB Asset Management AS now owns 12,189 shares of the real estate investment trust’s stock valued at $3,115,000 after buying an additional 300 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in Public Storage by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 38,148 shares of the real estate investment trust’s stock valued at $9,750,000 after buying an additional 2,289 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Public Storage by 1.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 125,934 shares of the real estate investment trust’s stock valued at $32,187,000 after buying an additional 1,627 shares in the last quarter. Institutional investors and hedge funds own 77.30% of the company’s stock.
Shares of Public Storage (NYSE:PSA) opened at 205.73 on Monday. Public Storage has a 1-year low of $200.65 and a 1-year high of $277.60. The company has a market cap of $35.68 billion, a PE ratio of 31.51 and a beta of 0.47. The company has a 50-day moving average of $210.41 and a 200-day moving average of $231.89.
Public Storage (NYSE:PSA) last released its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.51. The business earned $663.15 million during the quarter, compared to the consensus estimate of $624.13 million. Public Storage had a net margin of 52.71% and a return on equity of 26.05%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. Equities analysts forecast that Public Storage will post $9.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Wednesday, December 14th will be given a $2.00 dividend. The ex-dividend date of this dividend is Monday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.89%. This is an increase from Public Storage’s previous quarterly dividend of $1.80. Public Storage’s dividend payout ratio (DPR) is 110.43%.
Several equities analysts have recently commented on PSA shares. Jefferies Group lowered their price target on shares of Public Storage from $270.00 to $245.00 and set a “hold” rating on the stock in a report on Wednesday, August 10th. Bank of America Corp. lowered shares of Public Storage from a “buy” rating to a “neutral” rating in a research note on Thursday, August 11th. Evercore ISI raised shares of Public Storage from a “sell” rating to a “hold” rating and set a $228.00 price objective for the company in a research note on Monday, August 22nd. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Public Storage in a research note on Friday, August 26th. Finally, KeyCorp reduced their price objective on shares of Public Storage from $220.00 to $205.00 and set an “underweight” rating for the company in a research note on Monday, September 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $241.03.
In other news, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $216.32, for a total value of $12,979,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tamara Hughes Gustavson acquired 69,763 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was purchased at an average cost of $214.98 per share, with a total value of $14,997,649.74. Following the transaction, the director now owns 16,396,449 shares in the company, valued at $3,524,908,606.02. The disclosure for this purchase can be found here. 14.20% of the stock is currently owned by corporate insiders.
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