Redpoint Investment Management Pty Ltd grew its holdings in shares of Public Storage (NYSE:PSA) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,602 shares of the real estate investment trust’s stock after purchasing an additional 1,517 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Public Storage were worth $3,834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Public Storage by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,381,966 shares of the real estate investment trust’s stock valued at $968,021,000 after buying an additional 1,154,458 shares in the last quarter. Prudential PLC bought a new stake in shares of Public Storage in the third quarter worth approximately $98,398,000. Daiwa Securities Group Inc. grew its stake in shares of Public Storage by 16.8% in the third quarter. Daiwa Securities Group Inc. now owns 2,645,277 shares of the real estate investment trust’s stock worth $589,156,000 after acquiring an additional 380,030 shares during the period. BlackRock Inc. grew its stake in shares of Public Storage by 1.0% in the third quarter. BlackRock Inc. now owns 16,965,475 shares of the real estate investment trust’s stock worth $3,778,551,000 after acquiring an additional 165,877 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Public Storage by 25.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 768,819 shares of the real estate investment trust’s stock worth $171,231,000 after acquiring an additional 158,140 shares during the period. Hedge funds and other institutional investors own 79.01% of the company’s stock.

PSA traded up $2.55 on Wednesday, hitting $224.79. The company had a trading volume of 783,917 shares, compared to its average volume of 969,402. The company has a market cap of $39.30 billion, a PE ratio of 31.96, a PEG ratio of 6.62 and a beta of 0.13. Public Storage has a 12-month low of $155.37 and a 12-month high of $240.75. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $224.64 and its 200 day simple moving average is $216.64.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, November 4th. The real estate investment trust reported $1.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by ($1.19). The firm had revenue of $730.66 million during the quarter, compared to the consensus estimate of $728.78 million. Public Storage had a return on equity of 28.12% and a net margin of 48.65%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $2.73 EPS. On average, analysts anticipate that Public Storage will post 10.41 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, December 14th. Public Storage’s payout ratio is currently 74.42%.

PSA has been the topic of a number of research reports. Truist raised their price objective on shares of Public Storage from $205.00 to $233.00 in a report on Thursday, December 31st. BidaskClub downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Thursday, December 31st. Raymond James downgraded shares of Public Storage from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 6th. Finally, Morgan Stanley lifted their price target on shares of Public Storage from $203.00 to $221.00 and gave the company an “equal weight” rating in a report on Wednesday, December 9th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $213.40.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the ÂShurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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

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