Public Storage (NYSE:PSA) Holdings Cut by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC reduced its stake in Public Storage (NYSE:PSA) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,107 shares of the real estate investment trust’s stock after selling 369 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Public Storage were worth $1,034,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PSA. Meritage Portfolio Management acquired a new stake in Public Storage during the 4th quarter worth $2,749,000. Legacy Capital Partners Inc. boosted its stake in Public Storage by 15.9% during the 4th quarter. Legacy Capital Partners Inc. now owns 2,115 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 290 shares during the period. Creative Planning boosted its stake in Public Storage by 4.5% during the 4th quarter. Creative Planning now owns 9,095 shares of the real estate investment trust’s stock worth $1,841,000 after purchasing an additional 395 shares during the period. Man Group plc boosted its stake in Public Storage by 830.4% during the 3rd quarter. Man Group plc now owns 12,188 shares of the real estate investment trust’s stock worth $2,457,000 after purchasing an additional 10,878 shares during the period. Finally, Slow Capital Inc. acquired a new stake in shares of Public Storage in the 4th quarter worth $1,247,000. Hedge funds and other institutional investors own 81.08% of the company’s stock.

Shares of NYSE PSA traded up $0.76 during midday trading on Friday, reaching $217.45. 866,330 shares of the stock were exchanged, compared to its average volume of 773,914. The company has a market cap of $37.94 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 5.09 and a beta of 0.26. Public Storage has a 52-week low of $192.02 and a 52-week high of $234.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.97 and a quick ratio of 0.97.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.68%. Public Storage’s dividend payout ratio is presently 75.76%.

Several analysts have recently commented on the stock. Barclays restated a “sell” rating and issued a $218.00 target price on shares of Public Storage in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Argus increased their price target on shares of Public Storage to $240.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group upgraded shares of Public Storage from an “underperform” rating to a “hold” rating and increased their price target for the company from $181.00 to $201.00 in a report on Tuesday, April 9th. Finally, Bank of America set a $230.00 price target on shares of Public Storage and gave the company a “hold” rating in a report on Friday, March 1st. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Public Storage has a consensus rating of “Hold” and a consensus target price of $211.88.

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Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand.

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

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