American Century Companies Inc. raised its stake in Public Storage (NYSE:PSA) by 119.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,174 shares of the real estate investment trust’s stock after purchasing an additional 62,175 shares during the quarter. American Century Companies Inc. owned 0.07% of Public Storage worth $24,432,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Public Storage by 3.4% in the second quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after purchasing an additional 727,573 shares during the last quarter. BlackRock Inc. raised its stake in shares of Public Storage by 3.5% in the second quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock worth $3,056,489,000 after purchasing an additional 489,998 shares during the last quarter. APG Asset Management US Inc. raised its stake in shares of Public Storage by 8.3% in the third quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock worth $976,548,000 after purchasing an additional 350,712 shares during the last quarter. Capital World Investors raised its stake in shares of Public Storage by 93.3% in the second quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock worth $841,627,000 after purchasing an additional 1,948,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Public Storage by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock worth $659,280,000 after purchasing an additional 537,289 shares during the last quarter. 80.18% of the stock is owned by hedge funds and other institutional investors.
Public Storage (PSA) opened at $212.92 on Wednesday. Public Storage has a twelve month low of $192.15 and a twelve month high of $232.21. The firm has a market capitalization of $37,114.24, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 4.45 and a beta of 0.43.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.76%. The ex-dividend date is Tuesday, December 12th. Public Storage’s dividend payout ratio (DPR) is 116.79%.
Several analysts have recently commented on the company. reissued a “neutral” rating on shares of Public Storage in a research note on Wednesday, November 1st. Jefferies Group LLC set a $210.00 price objective on Public Storage and gave the stock a “hold” rating in a research note on Thursday, August 17th. downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. downgraded Public Storage from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, decreased their price target on Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, August 1st. Four equities 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. The company presently has an average rating of “Hold” and an average price target of $212.45.
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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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