Public Storage $PSA Stock Holdings Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in Public Storage (NYSE:PSA) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 80,064 shares of the real estate investment trust’s stock after acquiring an additional 2,093 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Public Storage were worth $22,645,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC grew its stake in shares of Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Continuum Advisory LLC acquired a new position in shares of Public Storage during the second quarter worth $29,000. William Mack & Associates Inc. acquired a new position in shares of Public Storage during the third quarter worth $35,000. Westside Investment Management Inc. acquired a new position in shares of Public Storage during the third quarter worth $35,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Public Storage in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSA. Raymond James Financial assumed coverage on Public Storage in a report on Thursday, July 16th. They set a “market perform” rating on the stock. Weiss Ratings lowered Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Barclays upped their target price on Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a report on Thursday, September 10th. Evercore set a $308.00 target price on Public Storage in a report on Monday, September 21st. Finally, Wells Fargo & Company set a $311.00 target price on Public Storage in a research report on Tuesday, September 1st. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Public Storage has an average rating of “Hold” and an average price target of $325.79.

Public Storage Stock Down 0.2%

NYSE:PSA opened at $335.38 on Thursday. Public Storage has a one year low of $256.54 and a one year high of $345.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $62.66 billion, a PE ratio of 35.12, a P/E/G ratio of 4.97 and a beta of 0.89. The firm’s 50 day simple moving average is $302.31 and its 200 day simple moving average is $304.77.

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

Public Storage Announces Dividend

The firm 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 $3.00 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.6%. Public Storage’s payout ratio is currently 125.65%.

Public Storage Profile

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.