Public Storage $PSA Stock: Russell Investments Group Ltd. Boosts Holdings

Russell Investments Group Ltd. raised its position in Public Storage (NYSE:PSA - Free Report) by 17.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 800,266 shares of the real estate investment trust's stock after purchasing an additional 117,903 shares during the quarter. Russell Investments Group Ltd. owned 0.43% of Public Storage worth $226,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Public Storage during the second quarter worth $5,495,077,000. Dimensional Fund Advisors LP raised its holdings in shares of Public Storage by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,280,540 shares of the real estate investment trust's stock valued at $617,720,000 after buying an additional 67,787 shares during the period. Legal & General Group Plc purchased a new stake in shares of Public Storage in the 2nd quarter valued at $601,650,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Public Storage in the 2nd quarter valued at $558,904,000. Finally, Deutsche Bank AG acquired a new position in Public Storage during the 2nd quarter worth about $400,776,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Down 0.7%

Shares of NYSE PSA opened at $333.38 on Friday. The stock has a market cap of $62.29 billion, a P/E ratio of 34.91, a PEG ratio of 4.96 and a beta of 0.89. The business's fifty day simple moving average is $302.96 and its 200-day simple moving average is $305.05. Public Storage has a 12-month low of $256.54 and a 12-month high of $345.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.80). Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business earned $4.31 EPS. The firm's revenue was up .5% compared to the same quarter last year. As a group, equities analysts predict that Public Storage will post 16.97 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Tuesday, December 15th will be given a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.6%. Public Storage's dividend payout ratio is currently 125.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PSA shares. Royal Bank Of Canada raised their target price on Public Storage from $318.00 to $323.00 and gave the company a "sector perform" rating in a report on Wednesday, October 28th. Wells Fargo & Company set a $311.00 price target on shares of Public Storage in a research note on Tuesday, September 1st. JPMorgan Chase & Co. reduced their price target on shares of Public Storage from $338.00 to $330.00 and set a "neutral" rating on the stock in a research report on Monday, September 21st. Scotiabank lowered their price objective on shares of Public Storage from $346.00 to $343.00 and set a "sector outperform" rating for the company in a research note on Wednesday, September 2nd. Finally, UBS Group raised their price objective on shares of Public Storage from $294.00 to $334.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of "Hold" and an average target price of $328.32.

Public Storage Company Profile

Public Storage is a real estate investment trust that owns and operates self-storage facilities. Its properties offer individuals and businesses rental storage units in a range of sizes for household goods, business inventory, and other belongings. The company also provides related services, including storage protection plans. Founded in 1972, Public Storage has grown into a major self-storage provider in the United States, with facilities serving customers across the country. Its business also has a connection to Europe through its investment in Shurgard Self Storage, which operates self-storage properties in several European markets.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.