Sawyer & Company Inc Takes $858,000 Position in Public Storage (PSA)

Sawyer & Company Inc acquired a new stake in Public Storage (NYSE:PSA) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,105 shares of the real estate investment trust’s stock, valued at approximately $858,000.

Other hedge funds also recently added to or reduced their stakes in the company. Covington Capital Management grew its stake in shares of Public Storage by 11.7% in the 2nd quarter. Covington Capital Management now owns 8,960 shares of the real estate investment trust’s stock valued at $1,868,000 after purchasing an additional 937 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Public Storage by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,552 shares of the real estate investment trust’s stock valued at $428,434,000 after purchasing an additional 57,277 shares during the period. Nationwide Fund Advisors grew its stake in shares of Public Storage by 7.6% in the 2nd quarter. Nationwide Fund Advisors now owns 118,395 shares of the real estate investment trust’s stock valued at $24,689,000 after purchasing an additional 8,410 shares during the period. Amalgamated Bank grew its stake in shares of Public Storage by 56.1% in the 2nd quarter. Amalgamated Bank now owns 17,486 shares of the real estate investment trust’s stock valued at $3,646,000 after purchasing an additional 6,283 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Public Storage by 2.5% in the 2nd quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust’s stock valued at $72,881,000 after purchasing an additional 8,600 shares during the period. Institutional investors own 80.64% of the company’s stock.

Public Storage (NYSE:PSA) traded down $5.04 during trading hours on Thursday, reaching $196.11. The company’s stock had a trading volume of 1,133,100 shares, compared to its average volume of 771,114. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The firm has a market cap of $34,130.00, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 4.17 and a beta of 0.44.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, December 12th. Public Storage’s dividend payout ratio is 116.96%.

PSA has been the topic of several analyst reports. KeyCorp reiterated a “sell” rating and issued a $184.00 price objective on shares of Public Storage in a research note on Wednesday, September 13th. Evercore ISI reissued an “underperform” rating and issued a $204.00 target price (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Barclays reissued a “hold” rating and issued a $207.00 target price on shares of Public Storage in a report on Thursday, October 19th. Finally, BMO Capital Markets set a $193.00 target price on Public Storage and gave the stock a “sell” rating in a report on Thursday, October 26th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $209.38.

In other Public Storage news, insider John Reyes sold 60,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $212.09, for a total value of $1,060,450.00. Following the transaction, the director now directly owns 8,350 shares in the company, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by corporate insiders.

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

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