Janus Henderson Group PLC Sells 19,046 Shares of Public Storage $PSA

Janus Henderson Group PLC lowered its stake in shares of Public Storage (NYSE:PSA) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,768 shares of the real estate investment trust’s stock after selling 19,046 shares during the quarter. Janus Henderson Group PLC’s holdings in Public Storage were worth $64,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayban bought a new position in Public Storage in the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage in the 3rd quarter valued at about $27,000. Wealth Watch Advisors INC purchased a new position in shares of Public Storage in the 3rd quarter worth approximately $34,000. Raiffeisen Bank International AG raised its stake in shares of Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 37 shares in the last quarter. Finally, Knuff & Co LLC acquired a new position in shares of Public Storage during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSA shares. Scotiabank upped their target price on Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. BMO Capital Markets raised their price target on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Jefferies Financial Group boosted their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Mizuho increased their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $326.05.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 11.10% of the stock is currently owned by corporate insiders.

Public Storage Price Performance

NYSE PSA opened at $324.99 on Friday. The company has a market cap of $57.05 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 4.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.56. The stock’s fifty day moving average price is $317.75 and its 200 day moving average price is $301.83. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s payout ratio is presently 114.50%.

Public Storage Company Profile

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.