Public Storage $PSA Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in Public Storage (NYSE:PSA) by 16.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 559,784 shares of the real estate investment trust’s stock after selling 107,314 shares during the period. American Century Companies Inc. owned about 0.32% of Public Storage worth $161,694,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PSA. Harvest Portfolios Group Inc. grew its stake in shares of Public Storage by 2.5% in the third quarter. Harvest Portfolios Group Inc. now owns 5,819 shares of the real estate investment trust’s stock valued at $1,681,000 after buying an additional 143 shares in the last quarter. Huntington National Bank boosted its holdings in Public Storage by 4.6% during the 3rd quarter. Huntington National Bank now owns 1,331 shares of the real estate investment trust’s stock valued at $384,000 after acquiring an additional 58 shares during the period. Clare Market Investments LLC grew its position in Public Storage by 21.1% in the 3rd quarter. Clare Market Investments LLC now owns 5,125 shares of the real estate investment trust’s stock valued at $1,480,000 after acquiring an additional 893 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Public Storage by 20.1% during the third quarter. Creative Financial Designs Inc. ADV now owns 5,411 shares of the real estate investment trust’s stock worth $1,563,000 after purchasing an additional 906 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its position in shares of Public Storage by 777.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 2,605 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 2,308 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PSA shares. Barclays set a $331.00 price objective on shares of Public Storage in a report on Tuesday, January 13th. Evercore set a $302.00 price objective on Public Storage in a research report on Tuesday, February 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 target price (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. Finally, Raymond James Financial decreased their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 18th. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $307.00.

Public Storage Price Performance

Shares of NYSE PSA opened at $306.98 on Monday. The stock’s 50-day simple moving average is $282.18 and its 200-day simple moving average is $283.50. 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 capitalization of $53.88 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 6.22 and a beta of 0.99. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $322.49.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage’s payout ratio is 133.04%.

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.