Appleton Partners Inc. MA acquired a new position in shares of Public Storage (NYSE:PSA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,450 shares of the real estate investment trust’s stock, valued at approximately $303,000.
Several other large investors have also recently bought and sold shares of the stock. Sawyer & Company Inc acquired a new position in Public Storage during the fourth quarter valued at approximately $858,000. Trust Co acquired a new position in Public Storage during the third quarter valued at approximately $294,000. DnB Asset Management AS boosted its position in Public Storage by 3.1% during the fourth quarter. DnB Asset Management AS now owns 20,089 shares of the real estate investment trust’s stock valued at $4,199,000 after purchasing an additional 600 shares during the last quarter. Prudential Financial Inc. boosted its position in Public Storage by 5.6% during the third quarter. Prudential Financial Inc. now owns 456,377 shares of the real estate investment trust’s stock valued at $97,660,000 after purchasing an additional 24,115 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Public Storage by 1.7% during the third quarter. Public Employees Retirement System of Ohio now owns 270,815 shares of the real estate investment trust’s stock valued at $57,952,000 after purchasing an additional 4,585 shares during the last quarter. Institutional investors and hedge funds own 80.64% of the company’s stock.
Several research analysts recently commented on the company. B. Riley reissued a “neutral” rating on shares of Public Storage in a research report on Wednesday, November 1st. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. BMO Capital Markets set a $193.00 price target on Public Storage and gave the company a “sell” rating in a research report on Thursday, October 26th. Jefferies Group set a $212.00 price target on Public Storage and gave the company a “hold” rating in a research report on Tuesday, November 28th. Finally, Bank of America cut Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price target for the company. in a research report on Monday, December 4th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $209.38.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage’s payout ratio is 116.79%.
In other news, Director Gary E. Pruitt sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total value of $12,734,400.00. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.
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Public Storage Company 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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