117,903 Public Storage $PSA Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in shares of Public Storage (NYSE:PSA) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 800,266 shares of the real estate investment trust’s stock after buying an additional 117,903 shares during the period. Russell Investments Group Ltd.’s holdings in Public Storage were worth $226,422,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new stake in Public Storage in the 2nd quarter valued at $5,495,077,000. Legal & General Group Plc acquired a new stake in shares of Public Storage during the second quarter worth about $601,650,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Public Storage during the second quarter worth about $558,904,000. Deutsche Bank AG acquired a new position in Public Storage in the 2nd quarter valued at about $400,776,000. Finally, Bank of America Corp DE acquired a new position in Public Storage in the 2nd quarter valued at about $333,063,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.7%

Public Storage stock opened at $333.38 on Friday. The stock’s 50 day moving average price is $302.96 and its 200 day moving average price is $305.05. Public Storage has a 1-year low of $256.54 and a 1-year high of $345.89. The company has a market cap of $62.29 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.00 and a quick ratio of 1.00.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company posted $4.31 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, sell-side analysts predict that Public Storage will post 16.97 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.6%. Public Storage’s dividend payout ratio is 125.65%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a research note on Monday, September 21st. UBS Group boosted their price objective on shares of Public Storage from $294.00 to $334.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Mizuho upped their price objective on shares of Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Barclays boosted their price target on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 10th. Finally, Weiss Ratings cut shares of Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, Public Storage presently has an average rating of “Hold” and an average price target of $328.32.

About Public Storage

Public Storage is a real estate investment trust that owns and operates self-storage facilities. Its properties offer individuals and businesses rental storage units in a range of sizes for household goods, business inventory, and other belongings. The company also provides related services, including storage protection plans. Founded in 1972, Public Storage has grown into a major self-storage provider in the United States, with facilities serving customers across the country. Its business also has a connection to Europe through its investment in Shurgard Self Storage, which operates self-storage properties in several European markets.