Teacher Retirement System of Texas Raises Stock Holdings in Public Storage $PSA

Teacher Retirement System of Texas lifted its holdings in Public Storage (NYSE:PSA) by 119.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,320 shares of the real estate investment trust’s stock after buying an additional 75,347 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of Public Storage worth $35,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSA. Empowered Funds LLC raised its holdings in shares of Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 373 shares during the period. Sivia Capital Partners LLC bought a new position in Public Storage in the second quarter worth approximately $929,000. Nebula Research & Development LLC bought a new position in Public Storage in the second quarter worth approximately $1,113,000. Treasurer of the State of North Carolina grew its stake in Public Storage by 1.9% in 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 in the last quarter. Finally, Ieq Capital LLC grew its stake in Public Storage by 219.8% in 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 in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 2.0%

Public Storage stock opened at $310.89 on Friday. The business has a fifty day moving average of $293.46 and a two-hundred day moving average of $284.33. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a market cap of $54.56 billion, a P/E ratio of 34.47, a P/E/G ratio of 4.05 and a beta of 1.02. Public Storage has a twelve month low of $256.54 and a twelve month high of $313.51.

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PSA. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Evercore dropped their price objective on Public Storage from $311.00 to $309.00 in a research note on Monday, April 13th. UBS Group dropped their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $308.50.

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.