Natixis Advisors LLC Sells 17,191 Shares of Public Storage $PSA

Key Points

• Natixis Advisors LLC trimmed its stake in Public Storage by 19.9%, selling 17,191 shares in Q3 and leaving it with 69,108 shares valued at about $19.96 million.
• Public Storage declared a quarterly dividend of $3.00 per share (annualized $12.00, ~4.0% yield), payable March 31 with an ex-dividend and record date of March 16.
• Analysts are mixed but cautious, with an average rating of "Hold" and an average price target of $307.13 (2 Strong Buy, 4 Buy, 12 Hold).

Natixis Advisors LLC trimmed its position in Public Storage (NYSE:PSA - Free Report) by 19.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,108 shares of the real estate investment trust's stock after selling 17,191 shares during the period. Natixis Advisors LLC's holdings in Public Storage were worth $19,962,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PSA. Patrick M Sweeney & Associates Inc. grew its stake in Public Storage by 3.5% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust's stock valued at $317,000 after acquiring an additional 36 shares during the period. CoreCap Advisors LLC raised its position in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust's stock worth $164,000 after purchasing an additional 37 shares during the period. Cape ANN Savings Bank lifted its holdings in shares of Public Storage by 1.4% in the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust's stock worth $807,000 after purchasing an additional 38 shares in the last quarter. Covestor Ltd grew its position in Public Storage by 9.4% in the 3rd quarter. Covestor Ltd now owns 467 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 40 shares during the period. Finally, Arkadios Wealth Advisors grew its position in Public Storage by 2.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust's stock valued at $504,000 after purchasing an additional 40 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Public Storage in a report on Thursday, January 22nd. Wolfe Research downgraded shares of Public Storage from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. BMO Capital Markets lowered their target price on shares of Public Storage from $320.00 to $305.00 and set a "market perform" rating on the stock in a report on Monday, December 22nd. Evercore set a $302.00 price target on Public Storage in a research note on Tuesday, February 17th. Finally, Barclays boosted their price objective on Public Storage from $331.00 to $347.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Public Storage currently has an average rating of "Hold" and an average target price of $307.13.

Public Storage Trading Down 1.9%

NYSE:PSA opened at $300.14 on Thursday. Public Storage has a 52 week low of $256.54 and a 52 week high of $312.95. The firm has a 50-day moving average price of $289.58 and a two-hundred day moving average price of $284.71. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market cap of $52.68 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 6.20 and a beta of 0.99.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage's dividend payout ratio (DPR) is presently 133.04%.

Public Storage Profile

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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