Sawtooth Solutions LLC Takes $304,000 Position in Public Storage (PSA)

Sawtooth Solutions LLC bought a new stake in Public Storage (NYSE:PSA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,453 shares of the real estate investment trust’s stock, valued at approximately $304,000.

Several other large investors have also made changes to their positions in PSA. Nationwide Fund Advisors boosted its holdings in Public Storage by 5.7% in the third quarter. Nationwide Fund Advisors now owns 125,152 shares of the real estate investment trust’s stock valued at $26,781,000 after acquiring an additional 6,757 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Public Storage by 2.3% in the third quarter. New York State Common Retirement Fund now owns 465,500 shares of the real estate investment trust’s stock valued at $99,612,000 after acquiring an additional 10,500 shares during the last quarter. Norinchukin Bank The boosted its holdings in Public Storage by 7.4% in the third quarter. Norinchukin Bank The now owns 11,139 shares of the real estate investment trust’s stock valued at $2,384,000 after acquiring an additional 764 shares during the last quarter. Trustmark National Bank Trust Department boosted its holdings in Public Storage by 29.4% in the third quarter. Trustmark National Bank Trust Department now owns 1,447 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 329 shares during the last quarter. Finally, ETRADE Capital Management LLC boosted its holdings in Public Storage by 47.6% in the third quarter. ETRADE Capital Management LLC now owns 8,276 shares of the real estate investment trust’s stock valued at $1,771,000 after acquiring an additional 2,669 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

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Several equities analysts recently issued reports on PSA shares. BMO Capital Markets set a $185.00 price target on Public Storage and gave the company a “sell” rating in a report on Tuesday, February 20th. Bank of America cut Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price on the stock. in a report on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Cantor Fitzgerald set a $213.00 target price on Public Storage and gave the stock a “hold” rating in a report on Monday, March 12th. Finally, Jefferies Group set a $199.00 target price on Public Storage and gave the stock a “hold” rating in a report on Monday, March 5th. Seven equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Public Storage has a consensus rating of “Hold” and an average price target of $204.47.

Shares of Public Storage stock opened at $193.05 on Friday. The company has a market capitalization of $33,632.21, a PE ratio of 19.29, a PEG ratio of 3.82 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 released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 EPS for the quarter, topping the Zacks’ consensus estimate of $2.72 by $0.03. The company had revenue of $634.22 million for the quarter, compared to analyst estimates of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. Public Storage’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 earnings per share. equities research analysts predict that Public Storage will post 10.53 earnings per share for the current fiscal year.

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

In other news, SVP Lily Yan Hughes sold 443 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $194.53, for a total transaction of $86,176.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 14.42% of the company’s stock.

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About Public Storage

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.

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

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