Prudential Financial Inc. boosted its position in Public Storage (NYSE:PSA) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 456,377 shares of the real estate investment trust’s stock after purchasing an additional 24,115 shares during the period. Prudential Financial Inc. owned about 0.26% of Public Storage worth $97,660,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PSA. Capital World Investors lifted its stake in Public Storage by 93.3% in 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 purchasing an additional 1,948,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 valued at $4,599,567,000 after purchasing an additional 727,573 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in Public Storage by 3,791.5% in the second quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock valued at $133,832,000 after purchasing an additional 625,297 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Public Storage by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock valued at $659,280,000 after purchasing an additional 537,289 shares during the last quarter. Finally, Koch Industries Inc. lifted its stake in Public Storage by 49,832.6% in the second quarter. Koch Industries Inc. now owns 525,291 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 524,239 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Several research firms recently commented on PSA. B. Riley reiterated a “neutral” rating on shares of Public Storage in a research note on Wednesday, November 1st. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $200.00 price objective on shares of Public Storage in a research note on Friday, October 27th. FBR & Co set a $220.00 price objective on Public Storage and gave the company a “hold” rating in a research note on Thursday, October 26th. BMO Capital Markets set a $193.00 price objective on Public Storage and gave the company a “sell” rating in a research note on Thursday, October 26th. Finally, Barclays PLC reiterated a “hold” rating and issued a $207.00 price objective on shares of Public Storage in a research note on Thursday, October 19th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $212.45.

COPYRIGHT VIOLATION WARNING: “Public Storage (PSA) Shares Bought by Prudential Financial Inc.” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/08/public-storage-psa-shares-bought-by-prudential-financial-inc.html.

Public Storage (NYSE PSA) traded up $1.57 during trading hours on Wednesday, hitting $213.06. The company’s stock had a trading volume of 126,127 shares, compared to its average volume of 906,874. The stock has a market capitalization of $36,366.84, a P/E ratio of 21.12, a P/E/G ratio of 4.35 and a beta of 0.43. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.75%. Public Storage’s dividend payout ratio (DPR) is presently 116.79%.

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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA).

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

Receive News & Stock Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related stocks with our FREE daily email newsletter.