Mackenzie Financial Corp bought a new position in Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,077 shares of the real estate investment trust’s stock, valued at approximately $225,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Nationwide Fund Advisors grew its holdings in Public Storage by 5.7% during the third quarter. Nationwide Fund Advisors now owns 125,152 shares of the real estate investment trust’s stock valued at $26,781,000 after purchasing an additional 6,757 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Public Storage by 13.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,507 shares of the real estate investment trust’s stock worth $8,240,000 after acquiring an additional 4,491 shares during the last quarter. American Century Companies Inc. boosted its stake in Public Storage by 119.6% during the third quarter. American Century Companies Inc. now owns 114,174 shares of the real estate investment trust’s stock worth $24,432,000 after buying an additional 62,175 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Public Storage by 2.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock worth $2,559,000 after buying an additional 279 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Public Storage by 2.3% during the third quarter. New York State Common Retirement Fund now owns 465,500 shares of the real estate investment trust’s stock worth $99,612,000 after buying an additional 10,500 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.
NYSE PSA traded down $2.08 on Friday, reaching $199.28. The stock had a trading volume of 724,186 shares, compared to its average volume of 1,047,885. The firm has a market cap of $35,546.83, a price-to-earnings ratio of 19.48, a P/E/G ratio of 4.03 and a beta of 0.28. Public Storage has a 1-year low of $180.48 and a 1-year high of $232.21.
Public Storage (NYSE:PSA) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.03. The company had revenue of $634.22 million for the quarter, compared to analyst estimates of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. Public Storage’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. research analysts expect that Public Storage will post 10.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 13th. This represents a $8.00 annualized dividend and a yield of 4.01%. Public Storage’s dividend payout ratio is presently 78.20%.
In other news, SVP Lily Yan Hughes sold 443 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $194.53, for a total transaction of $86,176.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.00% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on PSA shares. Cantor Fitzgerald set a $213.00 price objective on Public Storage and gave the company a “hold” rating in a report on Monday, March 12th. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Wells Fargo reissued a “hold” rating and set a $210.00 price objective (down from $225.00) on shares of Public Storage in a report on Thursday, March 15th. They noted that the move was a valuation call. Barclays restated a “hold” rating and set a $201.00 target price on shares of Public Storage in a research report on Wednesday, January 31st. Finally, Citigroup decreased their target price on Public Storage from $220.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, March 1st. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Public Storage presently has a consensus rating of “Hold” and a consensus price target of $204.47.
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Public Storage 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. The Company's headquarters are located in Glendale, California. At December 31, 2017, we had interests in 2,386 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 222 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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