Public Storage (PSA) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Public Storage (NYSE:PSA) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,301 shares of the real estate investment trust’s stock after buying an additional 13,690 shares during the quarter. State of Alaska Department of Revenue’s holdings in Public Storage were worth $22,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSA. Covington Capital Management lifted its position in shares of Public Storage by 11.7% during the second 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 lifted its position in shares of Public Storage by 2.9% during the second 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. California Public Employees Retirement System lifted its position in shares of Public Storage by 2.5% during the second 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. PGGM Investments lifted its position in shares of Public Storage by 0.8% during the third quarter. PGGM Investments now owns 1,486,414 shares of the real estate investment trust’s stock worth $318,078,000 after purchasing an additional 11,472 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of Public Storage by 3.5% during the third quarter. Pictet Asset Management Ltd. now owns 103,907 shares of the real estate investment trust’s stock worth $22,235,000 after purchasing an additional 3,480 shares in the last quarter. 80.80% of the stock is owned by institutional investors.

PSA has been the topic of several research reports. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Barclays reissued a “hold” rating and set a $207.00 price target on shares of Public Storage in a research report on Thursday, October 19th. SunTrust Banks reissued a “hold” rating and set a $200.00 price target on shares of Public Storage in a research report on Friday, October 27th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research report on Thursday, October 26th. Finally, B. Riley set a $220.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Seven 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. Public Storage presently has an average rating of “Hold” and a consensus target price of $209.38.

In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the transaction, the director now directly owns 8,350 shares in the company, valued at $1,770,951.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Reyes sold 60,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 14.42% of the stock is owned by company insiders.

Shares of Public Storage (NYSE PSA) opened at $193.25 on Friday. The firm has a market cap of $33,630.00, a P/E ratio of 28.25, a P/E/G ratio of 4.04 and a beta of 0.44. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $8.00 annualized dividend and a yield of 4.14%. Public Storage’s dividend payout ratio (DPR) is 116.96%.

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

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