Public Storage (PSA) Stake Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in Public Storage (NYSE:PSA) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,772 shares of the real estate investment trust’s stock after purchasing an additional 706 shares during the period. State of Alaska Department of Revenue’s holdings in Public Storage were worth $14,930,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PSA. USS Investment Management Ltd boosted its holdings in Public Storage by 13.7% in the fourth quarter. USS Investment Management Ltd now owns 55,500 shares of the real estate investment trust’s stock valued at $11,232,000 after acquiring an additional 6,700 shares in the last quarter. Legacy Capital Partners Inc. boosted its holdings in Public Storage by 15.9% in 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 acquiring an additional 290 shares in the last quarter. Palo Capital Inc. boosted its holdings in Public Storage by 9.2% in the third quarter. Palo Capital Inc. now owns 5,755 shares of the real estate investment trust’s stock valued at $1,160,000 after acquiring an additional 484 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in Public Storage by 6.5% in the third quarter. Federated Investors Inc. PA now owns 1,582,255 shares of the real estate investment trust’s stock valued at $319,030,000 after acquiring an additional 96,804 shares in the last quarter. Finally, Matthew Goff Investment Advisor LLC bought a new stake in Public Storage in the third quarter valued at $97,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Several research firms recently weighed in on PSA. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Jefferies Financial Group cut shares of Public Storage from a “hold” rating to an “underperform” rating and dropped their target price for the company from $202.00 to $175.00 in a report on Thursday, December 13th. Finally, Citigroup dropped their target price on shares of Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $203.58.



In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the business’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 completion of the sale, the director now directly owns 8,350 shares in the company, valued at approximately $1,697,972.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Lily Yan Hughes sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $212.14, for a total value of $3,182,100.00. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by insiders.

Shares of NYSE:PSA opened at $200.92 on Friday. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $234.90. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $34.56 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 3.84 and a beta of 0.24.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.85. Public Storage had a return on equity of 30.87% and a net margin of 55.38%. The business had revenue of $706.37 million during the quarter, compared to analyst estimates of $704.51 million. During the same quarter in the previous year, the firm earned $1.61 EPS. Sell-side analysts forecast that Public Storage will post 10.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 27th. Shareholders of record on Wednesday, December 12th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Tuesday, December 11th. Public Storage’s dividend payout ratio (DPR) is 78.20%.

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Public Storage Company Profile

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.

Further Reading: Hedge Funds Explained

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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