Avanza Fonder AB Acquires 2,465 Shares of Public Storage $PSA

Avanza Fonder AB lifted its holdings in Public Storage (NYSE:PSA) by 20.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,627 shares of the real estate investment trust’s stock after purchasing an additional 2,465 shares during the quarter. Avanza Fonder AB’s holdings in Public Storage were worth $3,796,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PSA. SG Americas Securities LLC raised its holdings in shares of Public Storage by 579.2% during the fourth quarter. SG Americas Securities LLC now owns 66,320 shares of the real estate investment trust’s stock worth $17,210,000 after acquiring an additional 56,555 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in Public Storage by 19.4% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 2,662 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 433 shares in the last quarter. Signet Financial Management LLC raised its stake in shares of Public Storage by 2.4% in the 4th quarter. Signet Financial Management LLC now owns 1,854 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 44 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Public Storage by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 33,288 shares of the real estate investment trust’s stock valued at $8,634,000 after purchasing an additional 1,581 shares in the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in shares of Public Storage by 8.8% during the fourth quarter. Sagespring Wealth Partners LLC now owns 1,294 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 105 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

PSA opened at $268.05 on Wednesday. The business’s 50-day simple moving average is $291.76 and its 200 day simple moving average is $283.97. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $47.05 billion, a PE ratio of 29.72, a PEG ratio of 5.48 and a beta of 0.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.5%. Public Storage’s dividend payout ratio is currently 133.04%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSA shares. Evercore set a $302.00 price objective on Public Storage in a report on Tuesday, February 17th. UBS Group cut their target price 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. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target for the company. in a research note on Thursday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Public Storage in a report on Friday, February 20th. Finally, Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $306.53.

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.