Janus Henderson Group PLC trimmed its stake in Public Storage (NYSE:PSA) by 33.9% during the third quarter, HoldingsChannel.com reports. The fund owned 92,444 shares of the real estate investment trust’s stock after selling 47,429 shares during the quarter. Janus Henderson Group PLC’s holdings in Public Storage were worth $18,639,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in PSA. Quad Cities Investment Group LLC bought a new stake in shares of Public Storage during the second quarter worth $151,000. Columbia Asset Management bought a new stake in shares of Public Storage during the third quarter worth $155,000. Landaas & Co. WI ADV bought a new stake in shares of Public Storage during the second quarter worth $156,000. Centaurus Financial Inc. bought a new stake in shares of Public Storage during the second quarter worth $199,000. Finally, Brand Asset Management Group Inc. bought a new stake in shares of Public Storage during the third quarter worth $206,000. Hedge funds and other institutional investors own 80.15% of the company’s stock.
Shares of PSA opened at $214.14 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29. Public Storage has a 12-month low of $180.48 and a 12-month high of $234.90. The firm has a market cap of $37.70 billion, a PE ratio of 20.44, a PEG ratio of 4.27 and a beta of 0.18.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, meeting the 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 analyst estimates of $704.51 million. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Research analysts anticipate that Public Storage will post 10.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, December 11th. Public Storage’s dividend payout ratio (DPR) is presently 78.20%.
In other news, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $203.35, for a total transaction of $1,016,750.00. Following the transaction, the director now owns 8,350 shares of the company’s stock, valued at $1,697,972.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.00% of the company’s stock.
Several analysts have recently commented on PSA shares. Goldman Sachs Group cut Public Storage from a “neutral” rating to a “sell” rating in a report on Wednesday, August 22nd. Citigroup decreased their target price on Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Finally, Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Public Storage presently has an average rating of “Hold” and an average price target of $205.58.
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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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