Davis Selected Advisers Has $18.25 Million Stock Holdings in Public Storage (NYSE:PSA)

Davis Selected Advisers increased its stake in shares of Public Storage (NYSE:PSA – Get Rating) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,130 shares of the real estate investment trust’s stock after purchasing an additional 6,620 shares during the quarter. Davis Selected Advisers’ holdings in Public Storage were worth $18,249,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. First Trust Advisors LP boosted its position in shares of Public Storage by 230.1% during the fourth quarter. First Trust Advisors LP now owns 847,753 shares of the real estate investment trust’s stock worth $237,536,000 after purchasing an additional 590,900 shares in the last quarter. Vanguard Group Inc. increased its stake in Public Storage by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 20,495,913 shares of the real estate investment trust’s stock valued at $6,001,408,000 after buying an additional 286,384 shares during the last quarter. Schroder Investment Management Group increased its stake in Public Storage by 55.5% in the 4th quarter. Schroder Investment Management Group now owns 632,622 shares of the real estate investment trust’s stock valued at $177,254,000 after buying an additional 225,796 shares during the last quarter. Bank of Montreal Can increased its stake in Public Storage by 63.5% in the 4th quarter. Bank of Montreal Can now owns 578,007 shares of the real estate investment trust’s stock valued at $163,362,000 after buying an additional 224,515 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Public Storage by 1.1% in the 3rd quarter. BlackRock Inc. now owns 17,157,864 shares of the real estate investment trust’s stock valued at $5,023,993,000 after buying an additional 186,843 shares during the last quarter. 77.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent analyst reports. Bank of America began coverage on shares of Public Storage in a research note on Monday, May 8th. They set a “buy” rating on the stock. StockNews.com assumed coverage on shares of Public Storage in a research report on Thursday, May 18th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $351.75.

Public Storage Stock Performance

NYSE PSA traded up $1.94 during trading hours on Friday, reaching $285.05. 456,379 shares of the company were exchanged, compared to its average volume of 1,017,491. Public Storage has a 1 year low of $270.13 and a 1 year high of $357.13. The business’s 50 day simple moving average is $293.85 and its 200-day simple moving average is $293.32. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $50.11 billion, a P/E ratio of 12.04, a P/E/G ratio of 3.71 and a beta of 0.45.

Public Storage (NYSE:PSA – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($1.93). Public Storage had a net margin of 98.82% and a return on equity of 72.08%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $3.54 earnings per share. Public Storage’s revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts expect that Public Storage will post 16.79 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Tuesday, June 13th. Public Storage’s dividend payout ratio (DPR) is presently 51.04%.

Public Storage Profile

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Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.