Jump Trading LLC bought a new position in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,612 shares of the real estate investment trust’s stock, valued at approximately $337,000.
Several other institutional investors also recently made changes to their positions in PSA. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 1,304,669 shares during the period. Security Capital Research & Management Inc. raised its position in shares of Public Storage by 54.8% during the fourth quarter. Security Capital Research & Management Inc. now owns 1,534,114 shares of the real estate investment trust’s stock worth $320,630,000 after purchasing an additional 542,803 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Public Storage by 151.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 699,299 shares of the real estate investment trust’s stock worth $146,153,000 after purchasing an additional 421,457 shares during the period. Lasalle Investment Management Securities LLC raised its position in shares of 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 purchasing an additional 408,263 shares during the period. Finally, BlackRock Inc. raised its position in shares of 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 purchasing an additional 312,682 shares during the period. 81.66% of the stock is currently owned by institutional investors.
Public Storage (PSA) opened at $196.72 on Tuesday. The firm has a market capitalization of $34,496.31, a price-to-earnings ratio of 19.78, a P/E/G ratio of 3.92 and a beta of 0.31. Public Storage has a 52-week low of $180.48 and a 52-week high of $232.21.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.03. The firm 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 earnings per share. equities research analysts anticipate that Public Storage will post 10.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 4.07%. Public Storage’s dividend payout ratio (DPR) is currently 118.69%.
In other Public Storage news, SVP Lily Yan Hughes sold 443 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $194.53, for a total value of $86,176.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 14.42% of the company’s stock.
PSA has been the topic of a number of recent analyst reports. Morgan Stanley lowered Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a research report on Wednesday, December 13th. KeyCorp set a $179.00 target price on Public Storage and gave the stock a “sell” rating in a research report on Thursday, March 15th. Bank of America raised Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 target price on the stock in a research report on Tuesday, February 27th. B. Riley set a $190.00 target price on Public Storage and gave the stock a “neutral” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets set a $185.00 price target on Public Storage and gave the company a “sell” rating in a research report on Tuesday, February 20th. Seven research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $204.47.
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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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