GW Henssler & Associates Ltd. grew its position in shares of Public Storage (NYSE:PSA) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,384 shares of the real estate investment trust’s stock after acquiring an additional 456 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Public Storage were worth $2,709,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TLP Group LLC purchased a new position in shares of Public Storage during the third quarter valued at approximately $124,000. Sound Income Strategies LLC boosted its position in shares of Public Storage by 29.0% during the fourth quarter. Sound Income Strategies LLC now owns 645 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 145 shares during the last quarter. Columbia Asset Management purchased a new position in shares of Public Storage during the third quarter valued at approximately $155,000. Brand Asset Management Group Inc. purchased a new position in shares of Public Storage during the third quarter valued at approximately $206,000. Finally, Iberiabank Corp purchased a new position in shares of Public Storage during the third quarter valued at approximately $214,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.
In other Public Storage news, SVP Lily Yan Hughes sold 15,000 shares of the business’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $212.14, for a total value of $3,182,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $203.35, for a total value of $1,016,750.00. Following the completion of the transaction, the director now directly owns 8,350 shares in the company, valued at approximately $1,697,972.50. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by insiders.
Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.85. Public Storage had a return on equity of 30.87% and a net margin of 55.38%. The business had revenue of $706.37 million for the quarter, compared to analysts’ expectations of $704.51 million. During the same quarter in the previous year, the firm earned $1.61 earnings per share. As a group, analysts forecast that Public Storage will post 10.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 27th. Shareholders of record on Wednesday, December 12th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, December 11th. This represents a $8.00 annualized dividend and a yield of 3.96%. Public Storage’s dividend payout ratio is currently 78.20%.
PSA has been the topic of several analyst reports. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Jefferies Financial Group cut Public Storage from a “hold” rating to an “underperform” rating and cut their target price for the company from $202.00 to $175.00 in a research report on Thursday, December 13th. Finally, Citigroup cut their target price on Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, October 5th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $203.58.
Public Storage Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the Shurgard brand.
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