Xact Kapitalforvaltning AB Purchases 1,817 Shares of Public Storage (PSA)

Xact Kapitalforvaltning AB lifted its position in Public Storage (NYSE:PSA) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,535 shares of the real estate investment trust’s stock after purchasing an additional 1,817 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Public Storage were worth $5,755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Public Storage by 2.1% during the fourth quarter. BlackRock Inc. now owns 15,205,032 shares of the real estate investment trust’s stock worth $3,177,851,000 after acquiring an additional 312,682 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Public Storage by 41.3% during the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock worth $950,191,000 after acquiring an additional 1,304,669 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Public Storage by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,123,657 shares of the real estate investment trust’s stock worth $454,437,000 after acquiring an additional 69,105 shares in the last quarter. Geode Capital Management LLC raised its stake in Public Storage by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 1,903,764 shares of the real estate investment trust’s stock worth $397,191,000 after acquiring an additional 75,518 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC raised its stake in Public Storage by 32.2% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,677,943 shares of the real estate investment trust’s stock worth $350,690,000 after acquiring an additional 408,263 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

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Several research analysts have issued reports on PSA shares. Jefferies Group set a $212.00 price objective on Public Storage and gave the stock a “hold” rating in a research note on Tuesday, November 28th. Cantor Fitzgerald reiterated a “hold” rating and set a $213.00 price objective on shares of Public Storage in a research note on Wednesday, February 21st. Barclays reiterated a “hold” rating and set a $201.00 price objective on shares of Public Storage in a research note on Wednesday, January 31st. Wells Fargo reiterated a “hold” rating and set a $210.00 price objective (down from $225.00) on shares of Public Storage in a research note on Thursday, March 15th. They noted that the move was a valuation call. Finally, Citigroup dropped their price objective on Public Storage from $220.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday, March 1st. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $204.47.

In other news, SVP Lily Yan Hughes sold 443 shares of the stock in a transaction on 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 legal filing with the SEC, which is available at this hyperlink. 14.42% of the stock is currently owned by corporate insiders.

Shares of PSA stock opened at $193.05 on Friday. The company has a market capitalization of $34,092.13, a price-to-earnings ratio of 28.64, a PEG ratio of 3.87 and a beta of 0.31. Public Storage has a 1-year low of $180.48 and a 1-year high of $232.21.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 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 analysts’ expectations of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. equities analysts forecast that Public Storage will post 10.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Tuesday, March 13th. Public Storage’s payout ratio is presently 118.69%.

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Public Storage Company 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.

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

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