Honeywell International Inc. boosted its holdings in shares of Public Storage (NYSE:PSA) by 27.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,596 shares of the real estate investment trust’s stock after buying an additional 8,601 shares during the period. Honeywell International Inc.’s holdings in Public Storage were worth $8,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in PSA. OppenheimerFunds Inc. increased its position in Public Storage by 9.0% during the 1st quarter. OppenheimerFunds Inc. now owns 1,474 shares of the real estate investment trust’s stock valued at $323,000 after buying an additional 122 shares in the last quarter. Gotham Asset Management LLC grew its stake in Public Storage by 241.9% during the 1st quarter. Gotham Asset Management LLC now owns 3,795 shares of the real estate investment trust’s stock valued at $831,000 after purchasing an additional 2,685 shares during the last quarter. Paloma Partners Management Co grew its stake in Public Storage by 38.5% during the 1st quarter. Paloma Partners Management Co now owns 7,200 shares of the real estate investment trust’s stock valued at $1,576,000 after purchasing an additional 2,000 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Public Storage during the 1st quarter valued at about $500,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Public Storage by 33.3% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,333 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 333 shares during the last quarter. 80.18% of the stock is currently owned by institutional investors.
Several analysts have weighed in on PSA shares. KeyCorp reiterated a “sell” rating and set a $184.00 price target on shares of Public Storage in a research note on Wednesday, September 13th. Evercore ISI reiterated an “underperform” rating and set a $204.00 price target (up previously from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. BMO Capital Markets began coverage on Public Storage in a research note on Monday, September 11th. They issued an “underperform” rating and a $193.00 target price on the stock. Finally, Barclays PLC lowered their target price on Public Storage from $216.00 to $209.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Public Storage has a consensus rating of “Hold” and a consensus price target of $212.45.
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Public Storage (PSA) opened at $212.92 on Wednesday. Public Storage has a fifty-two week low of $192.15 and a fifty-two week high of $232.21. The company has a market capitalization of $36,813.15, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 4.42 and a beta of 0.43.
The company also recently announced 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. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.76%. Public Storage’s payout ratio is currently 116.79%.
About Public Storage
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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