GTS Securities LLC lessened its holdings in Public Storage (NYSE:PSA – Free Report) by 51.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,586 shares of the real estate investment trust’s stock after selling 1,706 shares during the quarter. GTS Securities LLC’s holdings in Public Storage were worth $505,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC increased its holdings in Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after buying an additional 3,763 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Public Storage in the 2nd quarter valued at approximately $195,808,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Public Storage by 3.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after acquiring an additional 9,618 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Public Storage by 5.3% during the 4th quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after acquiring an additional 12,444 shares during the period. Finally, Globeflex Capital L P acquired a new stake in shares of Public Storage during the 2nd quarter worth approximately $3,689,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.
Public Storage Price Performance
Shares of NYSE:PSA opened at $313.65 on Monday. Public Storage has a one year low of $256.54 and a one year high of $335.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.69 and a beta of 0.96. The firm has a 50 day simple moving average of $322.34 and a 200 day simple moving average of $307.61.
Public Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.
Insider Buying and Selling at Public Storage
In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Evercore set a $316.00 target price on Public Storage in a report on Monday, July 6th. Mizuho boosted their price target on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. BNP Paribas Exane upped their price objective on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Raymond James Financial started coverage on Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating on the stock. Finally, Scotiabank lifted their target price on Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $326.16.
Check Out Our Latest Report on Public Storage
About Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.
The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.
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