Massachusetts Financial Services Co. MA Trims Position in Public Storage $PSA

Massachusetts Financial Services Co. MA lessened its position in shares of Public Storage (NYSE:PSA) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 825,799 shares of the real estate investment trust’s stock after selling 30,006 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.47% of Public Storage worth $214,295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PSA. National Pension Service increased its position in Public Storage by 4.2% in the third quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock worth $73,743,000 after buying an additional 10,345 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Public Storage by 57.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 1,816 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Public Storage by 14,992.3% in the third quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock worth $3,400,000 after buying an additional 11,694 shares in the last quarter. Jones Financial Companies Lllp increased its position in Public Storage by 19.9% in the third quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock worth $11,766,000 after buying an additional 6,814 shares in the last quarter. Finally, Vanderbilt University increased its position in Public Storage by 103.1% in the third quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock worth $2,632,000 after buying an additional 4,626 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSA. UBS Group reduced their price target on Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Scotiabank upped their price target on Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 23rd. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. JPMorgan Chase & Co. reduced their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Public Storage in a research note on Friday, February 20th. Two 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $306.53.

Public Storage Stock Performance

NYSE PSA opened at $293.53 on Monday. The firm has a market cap of $51.52 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 6.05 and a beta of 1.02. 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 business has a 50-day moving average price of $290.11 and a 200-day moving average price of $283.20. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. Public Storage’s dividend payout ratio is 133.04%.

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.