Aberdeen Group plc Cuts Stake in Public Storage $PSA

Aberdeen Group plc reduced its stake in shares of Public Storage (NYSE:PSA) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 341,725 shares of the real estate investment trust’s stock after selling 4,455 shares during the period. Aberdeen Group plc owned about 0.19% of Public Storage worth $88,678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PSA. First Pacific Financial bought a new stake in shares of Public Storage during the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the 3rd quarter worth about $27,000. Asset Dedication LLC boosted its stake in 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 period. Raiffeisen Bank International AG bought a new position in Public Storage in the 3rd quarter worth about $30,000. Finally, Tradewinds Capital Management LLC purchased a new position in Public Storage during the 3rd quarter valued at about $33,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PSA shares. Scotiabank increased their price target on shares of Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a report on Monday, March 23rd. Wells Fargo & Company cut shares of Public Storage from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. Finally, William Blair set a $305.00 price target on shares of Public Storage in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $306.53.

Public Storage Price Performance

PSA stock opened at $280.93 on Friday. The stock has a market capitalization of $49.30 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 5.75 and a beta of 1.02. The firm’s 50-day moving average price is $289.02 and its two-hundred day moving average price is $283.00. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a 12-month low of $256.54 and a 12-month high of $312.95.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid 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 dividend yield of 4.3%. Public Storage’s payout ratio is 133.04%.

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.