National Pension Service Purchases 16,009 Shares of Public Storage (PSA)
National Pension Service boosted its position in Public Storage (NYSE:PSA) by 11.7% in the fourth quarter, HoldingsChannel reports. The firm owned 152,816 shares of the real estate investment trust’s stock after purchasing an additional 16,009 shares during the quarter. National Pension Service’s holdings in Public Storage were worth $31,939,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Public Storage by 15.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 75 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Public Storage by 43.0% in the 2nd quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 175 shares in the last quarter. Cable Hill Partners LLC increased its holdings in Public Storage by 139.9% in the 3rd quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 459 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Public Storage by 23.8% in the 2nd quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 170 shares in the last quarter. Finally, Grimes & Company Inc. acquired a new position in Public Storage in the 3rd quarter worth about $204,000. 80.80% of the stock is owned by institutional investors and hedge funds.
In related news, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the sale, the director now owns 8,350 shares in the company, valued at approximately $1,770,951.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $212.24, for a total value of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is owned by corporate insiders.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.99). Public Storage had a net margin of 52.48% and a return on equity of 27.78%. equities analysts expect that Public Storage will post 10.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 4.14%. Public Storage’s payout ratio is 116.79%.
A number of equities analysts have issued reports on the company. Robert W. Baird cut Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price for the company. in a report on Tuesday, November 28th. Barclays reaffirmed a “hold” rating and issued a $207.00 target price on shares of Public Storage in a report on Thursday, October 19th. B. Riley set a $220.00 target price on Public Storage and gave the stock a “hold” rating in a report on Wednesday, November 15th. Bank of America cut Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a report on Monday, December 4th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price target on the stock. in a research report on Wednesday, December 13th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Public Storage has an average rating of “Hold” and a consensus target price of $209.38.
Public Storage Company Profile
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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