Public Storage $PSA Stock Position Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Public Storage (NYSE:PSA) by 1.4% in the 3rd quarter, Holdings Channel reports. The fund owned 817,245 shares of the real estate investment trust’s stock after purchasing an additional 11,074 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Public Storage were worth $231,150,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PSA. Hsbc Holdings PLC purchased a new position in Public Storage in the 2nd quarter valued at about $195,808,000. Nykredit A S acquired a new position in shares of Public Storage in the second quarter worth about $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Public Storage by 15.6% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock worth $8,470,000 after acquiring an additional 3,588 shares in the last quarter. Greenland Capital Management LP lifted its stake in shares of Public Storage by 300.0% in the second quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock worth $2,101,000 after acquiring an additional 4,950 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Public Storage by 25.3% in the second quarter. Benjamin Edwards Inc. now owns 16,577 shares of the real estate investment trust’s stock valued at $5,277,000 after purchasing an additional 3,343 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PSA shares. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reduced their target price on Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a research note on Monday, September 21st. Weiss Ratings downgraded shares of Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Seven research 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 company has an average rating of “Hold” and an average target price of $323.68.

Insider Transactions at Public Storage

In other Public Storage 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 value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is owned by company insiders.

Public Storage Trading Up 0.1%

Shares of NYSE PSA opened at $324.95 on Monday. The stock’s 50 day moving average price is $298.85 and its two-hundred day moving average price is $302.79. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The stock has a market capitalization of $60.71 billion, a P/E ratio of 34.03, a PEG ratio of 4.84 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.16.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.80). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. Public Storage’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.31 EPS. On average, analysts anticipate that Public Storage will post 16.96 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is 125.65%.

About Public Storage

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.