Public Storage $PSA Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in shares of Public Storage (NYSE:PSA) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,211 shares of the real estate investment trust’s stock after selling 4,505 shares during the period. Citigroup Inc. owned approximately 0.13% of Public Storage worth $67,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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 worth $6,663,394,000 after buying an additional 2,253,225 shares during the period. State Street Corp raised its stake in shares of Public Storage by 1.2% during the 2nd quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after purchasing an additional 126,113 shares in the last quarter. Norges Bank acquired a new stake in Public Storage in the second quarter valued at approximately $1,153,971,000. JPMorgan Chase & Co. lifted its stake in shares of Public Storage by 5.6% in the 3rd 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. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Public Storage by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock worth $857,674,000 after buying an additional 87,918 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 0.2%

Shares of NYSE PSA opened at $305.73 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The firm has a 50 day moving average price of $279.03 and a 200 day moving average price of $282.87. The stock has a market cap of $53.66 billion, a P/E ratio of 33.89, a P/E/G ratio of 10.39 and a beta of 1.01.

Public Storage Announces Dividend

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 dividend of $3.00 per share. 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 (DPR) is 133.04%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BNP Paribas Exane decreased their price objective on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. BMO Capital Markets lowered their price objective on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research report on Monday, December 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 target price (down previously from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. UBS Group dropped their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, Barclays set a $331.00 target price on shares of Public Storage in a research note on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $307.00.

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.