DekaBank Deutsche Girozentrale Cuts Holdings in Public Storage (PSA)

DekaBank Deutsche Girozentrale lowered its stake in Public Storage (NYSE:PSA) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,239 shares of the real estate investment trust’s stock after selling 1,002 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Public Storage worth $20,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in shares of Public Storage in the second quarter valued at approximately $105,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 75 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of Public Storage by 41.3% in the second quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 169 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in shares of Public Storage by 274.4% in the second quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 450 shares during the last quarter. Finally, Cable Hill Partners LLC raised its holdings in shares of Public Storage by 139.9% in the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 459 shares during the last quarter. 80.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Storage (NYSE PSA) traded down $0.33 on Wednesday, reaching $212.92. 640,800 shares of the company were exchanged, compared to its average volume of 854,197. The firm has a market capitalization of $37,114.24, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 4.45 and a beta of 0.43. Public Storage has a fifty-two week low of $192.15 and a fifty-two week high of $232.21.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.76%. Public Storage’s payout ratio is 116.79%.

PSA has been the topic of a number of recent research reports. B. Riley reiterated a “neutral” rating on shares of Public Storage in a report on Wednesday, November 1st. Bank of America Corporation lowered their price objective on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a report on Thursday, July 20th. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Barclays PLC reiterated a “hold” rating and issued a $207.00 price objective on shares of Public Storage in a report on Thursday, October 19th. Finally, BMO Capital Markets initiated coverage on shares of Public Storage in a report on Monday, September 11th. They issued an “underperform” rating and a $193.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $212.45.

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Public Storage Company 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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