Public Storage $PSA Stock Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in shares of Public Storage (NYSE:PSA) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 127,332 shares of the real estate investment trust’s stock after purchasing an additional 6,054 shares during the quarter. Retirement Systems of Alabama’s holdings in Public Storage were worth $36,015,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC increased its position in shares of Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Continuum Advisory LLC acquired a new position in shares of Public Storage during the 2nd quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Public Storage in the 2nd quarter worth about $36,000. William Mack & Associates Inc. purchased a new stake in shares of Public Storage in the 3rd quarter worth about $35,000. Finally, Westside Investment Management Inc. purchased a new stake in shares of Public Storage in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PSA. JPMorgan Chase & Co. lowered their price objective on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. Wells Fargo & Company set a $311.00 target price on shares of Public Storage in a research report on Tuesday, September 1st. UBS Group lifted their target price on shares of Public Storage from $294.00 to $334.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Mizuho upped their price target on shares of Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Hold” and a consensus target price of $325.79.

Public Storage Price Performance

Shares of NYSE:PSA opened at $336.05 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.00. The business’s fifty day moving average price is $301.65 and its two-hundred day moving average price is $304.51. The stock has a market cap of $62.79 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 5.00 and a beta of 0.89. Public Storage has a one year low of $256.54 and a one year high of $345.89.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm earned $4.31 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts forecast that Public Storage will post 16.97 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.6%. Public Storage’s dividend payout ratio (DPR) is presently 125.65%.

About Public Storage

Public Storage is a real estate investment trust that owns and operates self-storage facilities. Its properties offer individuals and businesses rental storage units in a range of sizes for household goods, business inventory, and other belongings. The company also provides related services, including storage protection plans. Founded in 1972, Public Storage has grown into a major self-storage provider in the United States, with facilities serving customers across the country. Its business also has a connection to Europe through its investment in Shurgard Self Storage, which operates self-storage properties in several European markets.