1,450 Shares in Public Storage (PSA) Purchased by Appleton Partners Inc. MA

Appleton Partners Inc. MA purchased a new stake in shares of Public Storage (NYSE:PSA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,450 shares of the real estate investment trust’s stock, valued at approximately $303,000.

A number of other large investors have also recently bought and sold shares of PSA. Covington Capital Management raised its holdings in Public Storage by 11.7% in the 2nd quarter. Covington Capital Management now owns 8,960 shares of the real estate investment trust’s stock worth $1,868,000 after purchasing an additional 937 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Public Storage by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,552 shares of the real estate investment trust’s stock worth $428,434,000 after purchasing an additional 57,277 shares in the last quarter. Nationwide Fund Advisors raised its holdings in Public Storage by 7.6% in the 2nd quarter. Nationwide Fund Advisors now owns 118,395 shares of the real estate investment trust’s stock worth $24,689,000 after purchasing an additional 8,410 shares in the last quarter. Amalgamated Bank raised its holdings in Public Storage by 56.1% in the 2nd quarter. Amalgamated Bank now owns 17,486 shares of the real estate investment trust’s stock worth $3,646,000 after purchasing an additional 6,283 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Public Storage by 2.5% in the 2nd quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust’s stock worth $72,881,000 after purchasing an additional 8,600 shares in the last quarter. Institutional investors own 80.80% of the company’s stock.

In related news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total value of $12,734,400.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gary E. Pruitt sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 8,350 shares in the company, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.

Several research analysts have commented on the stock. Morgan Stanley lowered shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a report on Wednesday, December 13th. Bank of America lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price target for the company. in a research note on Monday, December 4th. They noted that the move was a valuation call. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Robert W. Baird lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price target for the company. in a research note on Tuesday, November 28th. Finally, B. Riley set a $220.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Public Storage has an average rating of “Hold” and an average target price of $209.38.

Shares of Public Storage (NYSE PSA) traded up $0.31 during midday trading on Friday, hitting $193.56. 645,726 shares of the stock were exchanged, compared to its average volume of 648,105. The stock has a market cap of $33,633.42, a P/E ratio of 28.26, a PEG ratio of 3.99 and a beta of 0.44. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, December 12th. Public Storage’s payout ratio is 116.79%.

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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.

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

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