State of Alaska Department of Revenue Grows Stake in Public Storage (PSA)

State of Alaska Department of Revenue raised its holdings in shares of Public Storage (NYSE:PSA) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,301 shares of the real estate investment trust’s stock after buying an additional 13,690 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Public Storage worth $22,006,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSA. Capital World Investors grew its holdings in shares of Public Storage by 93.3% during 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 buying an additional 1,948,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Public Storage by 41.3% during the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock worth $950,191,000 after buying an additional 1,304,669 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Public Storage by 3,791.5% during the second quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock worth $133,832,000 after buying an additional 625,297 shares in the last quarter. Koch Industries Inc. grew its holdings in shares of Public Storage by 49,832.6% during the second quarter. Koch Industries Inc. now owns 525,291 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 524,239 shares in the last quarter. Finally, APG Asset Management US Inc. grew its holdings in shares of Public Storage by 8.3% during 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 buying an additional 350,712 shares in the last quarter. 80.80% of the stock is owned by institutional investors and hedge funds.

Shares of Public Storage (NYSE PSA) opened at $193.25 on Friday. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The stock has a market cap of $33,630.00, a PE ratio of 28.25, a P/E/G ratio of 4.04 and a beta of 0.44.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.60 by ($0.99). Public Storage had a net margin of 52.48% and a return on equity of 27.78%. analysts anticipate that Public Storage will post 10.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Tuesday, December 12th. Public Storage’s dividend payout ratio is currently 116.96%.

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price for the company. in a report on Tuesday, November 28th. Barclays reaffirmed a “hold” rating and set a $207.00 target price on shares of Public Storage in a report on Thursday, October 19th. B. Riley set a $220.00 target price on shares of Public Storage and gave the stock a “hold” rating in a report on Wednesday, November 15th. Bank of America lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price objective for the company. in a report on Monday, December 4th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a report on Wednesday, December 13th. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $209.38.

In other Public Storage news, insider John Reyes sold 60,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the transaction, the director now directly owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. Corporate insiders own 14.42% of the company’s stock.

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

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