Cwm LLC Sells 36,348 Shares of Public Storage $PSA

Key Points

• Cwm LLC reduced its Public Storage holding by 64.4% in Q4, selling 36,348 shares and leaving 20,062 shares valued at $5.206 million at quarter-end.
• Public Storage paid a quarterly dividend of $3.00 (annualized $12.00) for a 3.9% yield133.04%, indicating payouts exceed current earnings.
• The stock traded near $308.86 with a market cap of about $54.2 billion, a consensus target around $308.50, and several recent analyst price cuts and downgrades.

Cwm LLC lessened its position in Public Storage (NYSE:PSA - Free Report) by 64.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,062 shares of the real estate investment trust's stock after selling 36,348 shares during the period. Cwm LLC's holdings in Public Storage were worth $5,206,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Public Storage by 10.8% in the third quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust's stock valued at $6,663,394,000 after purchasing an additional 2,253,225 shares during the last quarter. JPMorgan Chase & Co. raised its position in Public Storage by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust's stock valued at $963,177,000 after purchasing an additional 177,421 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Public Storage by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,194,212 shares of the real estate investment trust's stock valued at $633,796,000 after purchasing an additional 49,996 shares during the last quarter. APG Asset Management US Inc. raised its position in Public Storage by 0.7% in the third quarter. APG Asset Management US Inc. now owns 2,184,979 shares of the real estate investment trust's stock valued at $635,130,000 after purchasing an additional 14,367 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Public Storage by 5.2% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,940,574 shares of the real estate investment trust's stock valued at $560,535,000 after purchasing an additional 96,627 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Down 1.1%

NYSE PSA opened at $308.86 on Wednesday. The business has a 50 day simple moving average of $292.94 and a 200 day simple moving average of $284.01. Public Storage has a one year low of $256.54 and a one year high of $313.51. The stock has a market capitalization of $54.21 billion, a P/E ratio of 34.24, a P/E/G ratio of 4.14 and a beta of 1.02. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, March 16th. Public Storage's dividend payout ratio (DPR) is 133.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on PSA. Jefferies Financial Group dropped their target price on Public Storage from $345.00 to $330.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Wall Street Zen downgraded Public Storage from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. BNP Paribas Exane lowered their price objective on Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Bank of America downgraded Public Storage from a "buy" rating to a "neutral" rating and set a $310.00 price objective for the company. in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Public Storage from a "buy" rating to a "hold" rating and set a $285.00 price objective for the company. in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and a consensus target price of $308.50.

About Public Storage

Public Storage NYSE: PSA is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company's core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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