PHH Investments Ltd. lessened its holdings in shares of Public Storage (NYSE:PSA) by 8.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,862 shares of the real estate investment trust’s stock after selling 443 shares during the quarter. PHH Investments Ltd.’s holdings in Public Storage were worth $1,040,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Covington Capital Management boosted its position in Public Storage by 11.7% during the second quarter. Covington Capital Management now owns 8,960 shares of the real estate investment trust’s stock worth $1,868,000 after purchasing an additional 937 shares during the period. Dimensional Fund Advisors LP boosted its position in Public Storage by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,054,552 shares of the real estate investment trust’s stock worth $428,434,000 after purchasing an additional 57,277 shares during the period. Nationwide Fund Advisors boosted its position in Public Storage by 7.6% during the second quarter. Nationwide Fund Advisors now owns 118,395 shares of the real estate investment trust’s stock worth $24,689,000 after purchasing an additional 8,410 shares during the period. Amalgamated Bank boosted its position in Public Storage by 56.1% during the second quarter. Amalgamated Bank now owns 17,486 shares of the real estate investment trust’s stock worth $3,646,000 after purchasing an additional 6,283 shares during the period. Finally, California Public Employees Retirement System boosted its position in Public Storage by 2.5% during the second quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust’s stock worth $72,881,000 after purchasing an additional 8,600 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.

A number of equities analysts have weighed in on the stock. Bank of America lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a research report on Monday, December 4th. They noted that the move was a valuation call. Jefferies Group set a $212.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price for the company. in a research report on Tuesday, November 28th. B. Riley set a $220.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Finally, SunTrust Banks restated a “hold” rating and issued a $200.00 price objective on shares of Public Storage in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $210.25.

Public Storage (PSA) traded up $2.50 during mid-day trading on Monday, hitting $210.84. 690,900 shares of the stock were exchanged, compared to its average volume of 851,083. Public Storage has a one year low of $192.15 and a one year high of $232.21. The company has a market capitalization of $36,694.80, a price-to-earnings ratio of 21.27, a P/E/G ratio of 4.52 and a beta of 0.43.

The company also recently disclosed 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 is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.79%. Public Storage’s dividend payout ratio (DPR) is currently 116.79%.

In other news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total value of $12,734,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.42% of the stock is currently owned by company insiders.

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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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