Public Storage $PSA Shares Acquired by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group increased its stake by 25.0% in Public Storage during Q3, buying 4,000 shares to hold 20,007 shares worth about $5.78 million.
• Public Storage announced a quarterly dividend of $3.00 (annualized $12.00), implying a 3.9% yield with an ex-dividend/record date of March 16 and a payment date of March 31, though the payout ratio is a high 133.04%.
• Analysts are mixed but cautious: the consensus rating is Hold with an average price target of $307.13, as several firms cut targets while Barclays raised its target to $347.

Jefferies Financial Group Inc. increased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,007 shares of the real estate investment trust's stock after purchasing an additional 4,000 shares during the period. Jefferies Financial Group Inc.'s holdings in Public Storage were worth $5,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Pacific Financial acquired a new stake in Public Storage in the 3rd quarter worth about $26,000. Asset Dedication LLC raised its holdings in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 50 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Public Storage during the third quarter valued at approximately $30,000. Tradewinds Capital Management LLC purchased a new position in shares of Public Storage in the third quarter valued at approximately $33,000. Finally, Quent Capital LLC purchased a new position in shares of Public Storage in the third quarter valued at approximately $37,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

NYSE:PSA opened at $306.75 on Tuesday. Public Storage has a one year low of $256.54 and a one year high of $322.49. 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 stock has a market cap of $53.84 billion, a PE ratio of 34.01, a P/E/G ratio of 6.24 and a beta of 0.99. The stock has a 50 day moving average price of $287.88 and a 200 day moving average price of $284.51.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, March 16th. Public Storage's dividend payout ratio is presently 133.04%.

Analysts Set New Price Targets

Several analysts recently commented on the company. BMO Capital Markets dropped their price target on Public Storage from $320.00 to $305.00 and set a "market perform" rating for the company in a research report on Monday, December 22nd. JPMorgan Chase & Co. restated a "neutral" rating and issued a $301.00 price objective (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Public Storage in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Public Storage from a "buy" rating to a "hold" rating and set a $285.00 target price for the company. in a report on Tuesday, January 20th. Finally, Barclays increased their target price on shares of Public Storage from $331.00 to $347.00 and gave the company an "overweight" rating in a research report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $307.13.

Public Storage Company 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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