Janney Montgomery Scott LLC Sells 3,574 Shares of Public Storage (PSA)

Janney Montgomery Scott LLC decreased its holdings in Public Storage (NYSE:PSA) by 42.1% in the fourth quarter, Holdings Channel reports. The fund owned 4,912 shares of the real estate investment trust’s stock after selling 3,574 shares during the period. Janney Montgomery Scott LLC’s holdings in Public Storage were worth $994,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Public Storage by 1.9% during the 3rd quarter. BlackRock Inc. now owns 15,674,301 shares of the real estate investment trust’s stock worth $3,160,411,000 after buying an additional 290,505 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Public Storage by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,360,124 shares of the real estate investment trust’s stock worth $475,863,000 after buying an additional 57,564 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Public Storage by 0.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,350,116 shares of the real estate investment trust’s stock worth $473,854,000 after buying an additional 18,311 shares during the last quarter. Federated Investors Inc. PA increased its holdings in shares of Public Storage by 6.5% during the 3rd quarter. Federated Investors Inc. PA now owns 1,582,255 shares of the real estate investment trust’s stock worth $319,030,000 after buying an additional 96,804 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Public Storage by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,579,391 shares of the real estate investment trust’s stock worth $358,300,000 after buying an additional 50,027 shares during the last quarter. Institutional investors own 81.43% of the company’s stock.

NYSE:PSA opened at $200.48 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 1.06. The company has a market cap of $35.85 billion, a P/E ratio of 19.60, a P/E/G ratio of 3.99 and a beta of 0.30. Public Storage has a fifty-two week low of $190.77 and a fifty-two week high of $234.90.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Barclays restated a “hold” rating and set a $212.00 price target on shares of Public Storage in a report on Tuesday, February 5th. Finally, Jefferies Financial Group downgraded shares of Public Storage from a “hold” rating to an “underperform” rating and cut their price target for the stock from $202.00 to $175.00 in a report on Thursday, December 13th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $205.18.

In related news, SVP Lily Yan Hughes sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $212.14, for a total transaction of $3,182,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.00% of the company’s stock.

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

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