Montrusco Bolton Investments Inc. Has $199.71 Million Stock Holdings in Public Storage $PSA

Montrusco Bolton Investments Inc. reduced its stake in shares of Public Storage (NYSE:PSA) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 711,333 shares of the real estate investment trust’s stock after selling 58,460 shares during the quarter. Public Storage makes up approximately 2.3% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 18th largest position. Montrusco Bolton Investments Inc.’s holdings in Public Storage were worth $199,714,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PSA. Patrick M Sweeney & Associates Inc. grew its stake in Public Storage by 3.5% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 36 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Public Storage by 7.0% during the 3rd quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37 shares during the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Public Storage by 2.9% during the 2nd quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after buying an additional 38 shares during the last quarter. Cape ANN Savings Bank grew its stake in shares of Public Storage by 1.4% in the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock valued at $807,000 after buying an additional 38 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in Public Storage by 60.6% in the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PSA. Morgan Stanley started coverage on shares of Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Raymond James Financial decreased their price objective on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Wells Fargo & Company downgraded shares of Public Storage from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft cut Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $307.00.

Public Storage Stock Down 1.7%

Shares of PSA opened at $298.89 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day simple moving average of $280.39 and a 200-day simple moving average of $283.14. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The firm has a market capitalization of $52.46 billion, a P/E ratio of 33.14, a P/E/G ratio of 6.15 and a beta of 1.01.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s payout ratio is currently 133.04%.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.