FDx Advisors Inc. grew its position in shares of Public Storage (NYSE:PSA) by 43.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,688 shares of the real estate investment trust’s stock after purchasing an additional 2,628 shares during the quarter. FDx Advisors Inc.’s holdings in Public Storage were worth $1,859,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new position in Public Storage during the 2nd quarter worth approximately $105,000. Northwestern Mutual Wealth Management Co. raised its holdings in Public Storage by 15.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 75 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Public Storage by 41.3% in the 2nd quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 169 shares in the last quarter. IHT Wealth Management LLC increased its stake in shares of Public Storage by 43.0% in the 2nd quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 175 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its stake in shares of Public Storage by 274.4% in the 2nd quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.
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Public Storage (NYSE PSA) traded up $0.15 on Monday, reaching $211.52. 736,500 shares of the company’s stock were exchanged, compared to its average volume of 856,299. The stock has a market cap of $36,813.15, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 4.42 and a beta of 0.43. Public Storage has a 1 year low of $192.15 and a 1 year high of $232.21.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Tuesday, December 12th. Public Storage’s dividend payout ratio is 116.79%.
Several analysts have recently weighed in on PSA shares. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Barclays PLC lowered their price objective on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Bank of America Corporation lowered their price objective on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. BidaskClub lowered shares of Public Storage from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Argus lowered their price objective on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $212.45.
Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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