Andra AP fonden Sells 40,600 Shares of Public Storage $PSA

Andra AP fonden decreased its stake in Public Storage (NYSE:PSA) by 42.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,200 shares of the real estate investment trust’s stock after selling 40,600 shares during the period. Andra AP fonden’s holdings in Public Storage were worth $15,656,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. First Pacific Financial bought a new position in shares of Public Storage during the 3rd quarter worth about $26,000. Asset Dedication LLC grew its holdings in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Public Storage during the 3rd quarter worth about $30,000. NewSquare Capital LLC raised its stake in shares of Public Storage by 60.6% in the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Finally, Tradewinds Capital Management LLC acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 1.0%

Public Storage stock opened at $306.98 on Friday. The stock has a 50-day simple moving average of $282.18 and a 200 day simple moving average of $283.47. The stock has a market capitalization of $53.88 billion, a P/E ratio of 34.03, a PEG ratio of 6.16 and a beta of 1.01. 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 $322.49.

Public Storage Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho cut their price target on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Morgan Stanley assumed coverage on shares of Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price on the stock. Truist Financial upped their target price on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Finally, Raymond James Financial lowered their target price 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 research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $307.00.

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.