Advisors Asset Management Inc. Has $6.13 Million Position in Public Storage (PSA)

Advisors Asset Management Inc. decreased its position in Public Storage (NYSE:PSA) by 13.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,626 shares of the real estate investment trust’s stock after selling 4,263 shares during the period. Advisors Asset Management Inc.’s holdings in Public Storage were worth $6,126,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in Public Storage in the 2nd quarter worth about $105,000. Northwestern Mutual Wealth Management Co. boosted its stake in Public Storage by 15.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 75 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in Public Storage by 274.4% in the 2nd quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 450 shares in the last quarter. Cable Hill Partners LLC boosted its stake in Public Storage by 139.9% in the 3rd quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 459 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Public Storage by 23.8% in the 2nd quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 80.31% of the company’s stock.

A number of equities analysts recently issued reports on the stock. BMO Capital Markets set a $193.00 price target on shares of Public Storage and gave the stock a “sell” rating in a research note on Thursday, October 26th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “sell” rating and issued a $184.00 price target on shares of Public Storage in a research note on Wednesday, September 13th. Evercore ISI reiterated an “underperform” rating and issued a $204.00 price target (up previously from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $200.00 price target on shares of Public Storage in a research note on Friday, October 27th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $213.08.

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Public Storage (PSA) traded down $0.36 during midday trading on Monday, hitting $211.49. 22,478 shares of the stock traded hands, compared to its average volume of 853,538. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The stock has a market cap of $36,870.00, a price-to-earnings ratio of 21.38, a P/E/G ratio of 4.42 and a beta of 0.43.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 12th. Public Storage’s payout ratio is currently 116.96%.

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.

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

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