USS Investment Management Ltd Acquires 6,700 Shares of Public Storage (PSA)

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USS Investment Management Ltd grew its holdings in Public Storage (NYSE:PSA) by 13.7% during the 4th quarter, Holdings Channel reports. The fund owned 55,500 shares of the real estate investment trust’s stock after purchasing an additional 6,700 shares during the period. USS Investment Management Ltd’s holdings in Public Storage were worth $11,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in PSA. Metropolitan Life Insurance Co. NY lifted its holdings in Public Storage by 0.6% during the second quarter. Metropolitan Life Insurance Co. NY now owns 38,150 shares of the real estate investment trust’s stock valued at $8,655,000 after purchasing an additional 246 shares in the last quarter. Clarius Group LLC lifted its holdings in Public Storage by 25.6% during the third quarter. Clarius Group LLC now owns 1,377 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 281 shares in the last quarter. Legacy Capital Partners Inc. lifted its holdings in Public Storage by 15.9% during the fourth quarter. Legacy Capital Partners Inc. now owns 2,115 shares of the real estate investment trust’s stock valued at $428,000 after purchasing an additional 290 shares in the last quarter. Evercore Wealth Management LLC lifted its holdings in Public Storage by 7.1% during the third quarter. Evercore Wealth Management LLC now owns 4,437 shares of the real estate investment trust’s stock valued at $894,000 after purchasing an additional 294 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its holdings in Public Storage by 1.0% during the third quarter. Sheets Smith Wealth Management now owns 30,035 shares of the real estate investment trust’s stock valued at $6,056,000 after purchasing an additional 300 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Lily Yan Hughes sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $212.14, for a total transaction of $3,182,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary E. Pruitt sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $203.35, for a total transaction of $1,016,750.00. Following the sale, the director now owns 8,350 shares of the company’s stock, valued at $1,697,972.50. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by company insiders.

PSA has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Public Storage from $235.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, October 5th. Jefferies Financial Group cut shares of Public Storage from a “hold” rating to an “underperform” rating and reduced their target price for the company from $202.00 to $175.00 in a research report on Thursday, December 13th. Finally, Zacks Investment Research cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, November 14th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $203.58.

Shares of NYSE PSA opened at $198.18 on Thursday. The stock has a market capitalization of $34.28 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 3.81 and a beta of 0.24. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. Public Storage has a 52 week low of $180.48 and a 52 week high of $234.90.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.85. The business had revenue of $706.37 million during the quarter, compared to analysts’ expectations of $704.51 million. Public Storage had a net margin of 55.38% and a return on equity of 30.87%. During the same period in the prior year, the business earned $1.61 earnings per share. As a group, equities research analysts predict that Public Storage will post 10.54 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 27th. Investors of record on Wednesday, December 12th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 4.04%. The ex-dividend date was Tuesday, December 11th. Public Storage’s payout ratio is currently 78.20%.

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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 September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 million net rentable square feet in the United States and 228 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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