Garland Capital Management Inc. Raises Position in Public Storage (PSA)

Garland Capital Management Inc. increased its stake in shares of Public Storage (NYSE:PSA) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,568 shares of the real estate investment trust’s stock after acquiring an additional 523 shares during the quarter. Garland Capital Management Inc.’s holdings in Public Storage were worth $3,545,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Public Storage by 9.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,170 shares of the real estate investment trust’s stock worth $2,604,000 after acquiring an additional 1,063 shares during the last quarter. Achmea Investment Management B.V. boosted its position in shares of Public Storage by 46.8% during the third quarter. Achmea Investment Management B.V. now owns 11,053 shares of the real estate investment trust’s stock worth $2,360,000 after acquiring an additional 3,526 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Public Storage by 41.3% during the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock worth $950,191,000 after acquiring an additional 1,304,669 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in shares of Public Storage by 34.7% during the third quarter. Virginia Retirement Systems ET AL now owns 150,554 shares of the real estate investment trust’s stock worth $32,217,000 after acquiring an additional 38,800 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Public Storage by 6.0% during the third quarter. Legal & General Group Plc now owns 1,146,873 shares of the real estate investment trust’s stock worth $245,401,000 after acquiring an additional 64,456 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. B. Riley reaffirmed a “neutral” rating on shares of Public Storage in a research note on Wednesday, November 1st. Jefferies Group LLC set a $210.00 price target on shares of Public Storage and gave the company a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub downgraded shares of Public Storage from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, Argus decreased their price target on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $213.08.

Shares of Public Storage (NYSE:PSA) traded up $1.50 on Monday, hitting $212.79. 257,000 shares of the stock traded hands, compared to its average volume of 846,476. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The stock has a market capitalization of $37,034.18, a P/E ratio of 21.47, a P/E/G ratio of 4.44 and a beta of 0.43.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Tuesday, December 12th. Public Storage’s dividend payout ratio is currently 116.79%.

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About Public Storage

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.

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

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