Sabal Trust CO acquired a new position in shares of Public Storage (NYSE:PSA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 104,208 shares of the real estate investment trust’s stock, valued at approximately $22,300,000. Public Storage makes up 2.2% of Sabal Trust CO’s holdings, making the stock its 29th biggest holding. Sabal Trust CO owned about 0.06% of Public Storage at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in Public Storage during the second quarter worth approximately $105,000. Northwestern Mutual Wealth Management Co. lifted its position in Public Storage by 15.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 75 shares in the last quarter. CENTRAL TRUST Co lifted its position in Public Storage by 41.3% during the second quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 169 shares in the last quarter. IHT Wealth Management LLC lifted its position in Public Storage by 43.0% during the second quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 175 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its position in Public Storage by 274.4% during the second quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

Shares of Public Storage (NYSE PSA) traded up 0.38% during midday trading on Monday, hitting $215.90. The stock had a trading volume of 122,682 shares. The stock has a 50-day moving average price of $213.55 and a 200-day moving average price of $211.24. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The stock has a market cap of $37.57 billion, a P/E ratio of 30.80 and a beta of 0.44.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.95). Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. During the same quarter in the prior year, the company posted $2.40 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts forecast that Public Storage will post $7.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.72%. Public Storage’s dividend payout ratio is currently 113.96%.

In related news, Director Ronald P. Spogli purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $200.59 per share, for a total transaction of $401,180.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 14.42% of the stock is currently owned by corporate insiders.

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A number of brokerages recently commented on PSA. Barclays PLC reiterated a “hold” rating and set a $207.00 price objective on shares of Public Storage in a research report on Thursday. BMO Capital Markets assumed coverage on Public Storage in a research note on Monday, September 11th. They set an “underperform” rating and a $193.00 target price for the company. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Evercore ISI reissued an “underperform” rating and set a $204.00 target price (up previously from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $222.00 target price on shares of Public Storage in a research note on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $214.73.

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

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