Public Storage (PSA) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd decreased its stake in shares of Public Storage (NYSE:PSA) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,200 shares of the real estate investment trust’s stock after selling 4,000 shares during the period. USS Investment Management Ltd’s holdings in Public Storage were worth $6,522,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Carnegie Capital Asset Management LLC lifted its position in Public Storage by 4.8% during the second quarter. Carnegie Capital Asset Management LLC now owns 1,540 shares of the real estate investment trust’s stock valued at $311,000 after purchasing an additional 70 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Public Storage by 15.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 75 shares during the period. Pinebridge Investments L.P. lifted its position in Public Storage by 3.4% during the second quarter. Pinebridge Investments L.P. now owns 2,813 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 92 shares during the period. Advisor Group Inc. lifted its position in Public Storage by 1.1% during the second quarter. Advisor Group Inc. now owns 15,191 shares of the real estate investment trust’s stock valued at $3,141,000 after purchasing an additional 161 shares during the period. Finally, D.A. Davidson & CO. lifted its position in Public Storage by 23.8% during the second quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 170 shares during the period. Institutional investors own 80.80% of the company’s stock.

Shares of Public Storage (NYSE:PSA) opened at $193.75 on Wednesday. The stock has a market cap of $33,720.00, a price-to-earnings ratio of 28.33, a PEG ratio of 4.00 and a beta of 0.44. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.60 by ($0.99). Public Storage had a return on equity of 27.78% and a net margin of 52.48%. analysts anticipate that Public Storage will post 10.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage’s dividend payout ratio (DPR) is presently 116.96%.

In related news, insider John Reyes sold 60,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the transaction, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. Corporate insiders own 14.42% of the company’s stock.

A number of brokerages recently weighed in on PSA. BMO Capital Markets set a $193.00 price objective on shares of Public Storage and gave the company a “sell” rating in a research report on Thursday, October 26th. Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research report on Tuesday, November 28th. FBR & Co set a $220.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research report on Thursday, October 26th. Morgan Stanley downgraded shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective on the stock. in a research report on Wednesday, December 13th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $200.00 target price on shares of Public Storage in a report on Friday, October 27th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Public Storage has a consensus rating of “Hold” and an average price target of $209.38.

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About Public Storage

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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