Ffcm LLC lifted its holdings in Public Storage (NYSE:PSA) by 17.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,281 shares of the real estate investment trust’s stock after purchasing an additional 4,580 shares during the period. Public Storage makes up 1.4% of Ffcm LLC’s holdings, making the stock its 23rd biggest holding. Ffcm LLC’s holdings in Public Storage were worth $6,480,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in PSA. Vanguard Group Inc. grew its holdings in Public Storage by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after acquiring an additional 727,573 shares in the last quarter. BlackRock Inc. grew its holdings in Public Storage by 3.5% during the 2nd quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock worth $3,056,489,000 after acquiring an additional 489,998 shares in the last quarter. APG Asset Management US Inc. grew its holdings in Public Storage by 8.3% during the 3rd quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock worth $976,548,000 after acquiring an additional 350,712 shares in the last quarter. Capital World Investors grew its holdings in Public Storage by 93.3% during the 2nd quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock worth $841,627,000 after acquiring an additional 1,948,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Public Storage by 20.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock worth $659,280,000 after acquiring an additional 537,289 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.
Public Storage (PSA) traded up $1.50 during trading hours on Friday, hitting $212.79. 257,042 shares of the stock were exchanged, compared to its average volume of 683,978. Public Storage has a fifty-two week low of $192.15 and a fifty-two week high of $232.21. The firm has a market cap of $37,034.18, a PE ratio of 21.47, a PEG ratio of 4.44 and a beta of 0.43.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.76%. Public Storage’s dividend payout ratio (DPR) is presently 116.79%.
A number of equities analysts have commented on PSA shares. B. Riley restated a “neutral” rating on shares of Public Storage in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Barclays PLC restated a “hold” rating and set a $207.00 price objective on shares of Public Storage in a research report on Thursday, October 19th. BMO Capital Markets started coverage on shares of Public Storage in a research report on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. Finally, Argus cut their price objective on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Public Storage has an average rating of “Hold” and a consensus target price of $213.08.
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Public Storage Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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