Swiss Life Asset Management Ltd reduced its stake in shares of Public Storage (NYSE:PSA – Free Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,502 shares of the real estate investment trust’s stock after selling 1,946 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Public Storage were worth $8,434,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CoreCap Advisors LLC raised its stake in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 37 shares in the last quarter. Doliver Advisors LP raised its position in Public Storage by 1.0% in the fourth quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock worth $1,071,000 after acquiring an additional 39 shares in the last quarter. Covestor Ltd raised its position in Public Storage by 9.4% in the third quarter. Covestor Ltd now owns 467 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 40 shares in the last quarter. Arkadios Wealth Advisors raised its position in Public Storage by 2.3% in the third quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust’s stock worth $504,000 after acquiring an additional 40 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Public Storage by 18.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 41 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.
Public Storage Price Performance
NYSE PSA opened at $311.26 on Wednesday. The stock’s 50-day moving average price is $294.17 and its two-hundred day moving average price is $284.43. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market cap of $54.64 billion, a PE ratio of 32.12, a PEG ratio of 4.25 and a beta of 1.00. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51.
Public Storage Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th 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, June 15th. Public Storage’s payout ratio is presently 123.84%.
Wall Street Analysts Forecast Growth
PSA has been the topic of several research reports. Evercore set a $306.00 price target on shares of Public Storage in a research report on Monday, May 4th. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a research report on Thursday, February 5th. Wells Fargo & Company cut shares of Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target on the stock. in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.83.
Read Our Latest Report on Public Storage
Public Storage 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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