Universal Beteiligungs und Servicegesellschaft mbH Sells 26,636 Shares of Public Storage $PSA

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in shares of Public Storage (NYSE:PSA) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,796 shares of the real estate investment trust’s stock after selling 26,636 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Public Storage were worth $54,948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Empowered Funds LLC lifted its stake in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Public Storage during the second quarter worth $929,000. Nebula Research & Development LLC bought a new stake in Public Storage during the second quarter worth $1,113,000. Treasurer of the State of North Carolina lifted its stake in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Public Storage by 219.8% during the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after purchasing an additional 33,122 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price for the company. in a research note on Tuesday, January 20th. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target for the company. in a report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price target on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Finally, Scotiabank upped their price target on shares of Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a report on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $308.50.

Public Storage Stock Down 1.5%

Shares of NYSE:PSA opened at $303.86 on Thursday. The company has a fifty day moving average of $293.14 and a 200-day moving average of $284.15. The company has a market capitalization of $53.33 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 4.09 and a beta of 1.02. 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 $313.51.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, March 16th. Public Storage’s dividend payout ratio is presently 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.