Commonwealth Bank of Australia lifted its stake in shares of Public Storage (NYSE:PSA) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,828 shares of the real estate investment trust’s stock after acquiring an additional 8,596 shares during the quarter. Commonwealth Bank of Australia’s holdings in Public Storage were worth $4,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Janney Montgomery Scott LLC boosted its stake in shares of Public Storage by 48.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,349 shares of the real estate investment trust’s stock worth $2,992,000 after acquiring an additional 4,652 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Public Storage by 6.8% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 1,335 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 85 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Public Storage by 12.1% during the 2nd quarter. CIBC Asset Management Inc now owns 50,609 shares of the real estate investment trust’s stock worth $10,553,000 after acquiring an additional 5,477 shares in the last quarter. Bessemer Group Inc. bought a new stake in shares of Public Storage during the 2nd quarter worth $105,000. Finally, Garland Capital Management Inc. bought a new stake in shares of Public Storage during the 2nd quarter worth $3,345,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on PSA shares. Jefferies Group set a $210.00 price objective on Public Storage and gave the stock a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BMO Capital Markets started coverage on Public Storage in a research note on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. KeyCorp reissued a “sell” rating and set a $184.00 price objective on shares of Public Storage in a research note on Wednesday, September 13th. Finally, Evercore ISI reissued an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Public Storage has a consensus rating of “Hold” and an average price target of $210.75.

Shares of Public Storage (NYSE:PSA) traded down $1.05 during trading on Friday, hitting $212.07. The stock had a trading volume of 810,068 shares, compared to its average volume of 726,172. The firm has a market capitalization of $37,091.62, a PE ratio of 21.51, a PEG ratio of 4.50 and a beta of 0.43. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders 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 annualized dividend and a dividend yield of 3.77%. Public Storage’s dividend payout ratio (DPR) is presently 116.79%.

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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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