4,310 Public Storage $PSA Shares Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in Public Storage (NYSE:PSA) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,151 shares of the real estate investment trust’s stock after purchasing an additional 4,310 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Public Storage were worth $8,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its stake in Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of Public Storage in the second quarter valued at about $29,000. Meeder Asset Management Inc. purchased a new position in shares of Public Storage in the second quarter worth about $36,000. William Mack & Associates Inc. purchased a new position in shares of Public Storage in the third quarter worth about $35,000. Finally, Putney Financial Group LLC purchased a new position in shares of Public Storage in the third quarter worth about $40,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of a number of recent research reports. Scotiabank lowered their price target on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Mizuho increased their price objective on shares of Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Weiss Ratings lowered shares of Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada boosted their target price on Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 28th. Finally, JPMorgan Chase & Co. lowered their target price on Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $325.79.

Public Storage Stock Down 0.8%

NYSE PSA opened at $340.04 on Friday. Public Storage has a 52 week low of $256.54 and a 52 week high of $345.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.16. The business’s fifty day simple moving average is $300.07 and its 200-day simple moving average is $303.76. The firm has a market cap of $63.53 billion, a PE ratio of 20.17, a P/E/G ratio of 5.07 and a beta of 0.89.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.80). Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm posted $4.31 EPS. The company’s revenue was up .5% compared to the same quarter last year. As a group, equities analysts anticipate that Public Storage will post 16.97 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.5%. Public Storage’s payout ratio is 125.65%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.10% of the stock is owned by company insiders.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.