Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Public Storage (NYSE:PSA – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,115 shares of the real estate investment trust’s stock, valued at approximately $549,000.
Several other institutional investors and hedge funds have also modified their holdings of PSA. Doliver Advisors LP increased its position in Public Storage by 1.0% during 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 during the period. Covestor Ltd boosted its holdings in Public Storage by 9.4% in the 3rd quarter. Covestor Ltd now owns 467 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 40 shares during the period. Arkadios Wealth Advisors boosted its holdings in Public Storage by 2.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust’s stock valued at $504,000 after purchasing an additional 40 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in Public Storage by 18.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 41 shares during the period. Finally, Hilltop Holdings Inc. grew its position in shares of Public Storage by 4.7% during the 3rd quarter. Hilltop Holdings Inc. now owns 906 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 41 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.
Public Storage Stock Performance
Shares of Public Storage stock opened at $304.98 on Friday. 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 $53.54 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00. The company has a 50 day moving average of $293.08 and a 200-day moving average of $284.74. Public Storage has a 1-year low of $256.54 and a 1-year high of $313.51.
Public Storage Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on PSA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Tuesday, April 21st. Jefferies Financial Group increased their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group raised their price objective on Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a research note on Monday. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a report on Thursday, February 5th. Finally, William Blair set a $305.00 target price on Public Storage in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $313.22.
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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