Asset Management One Co. Ltd. Sells 1,805 Shares of Public Storage $PSA

Asset Management One Co. Ltd. trimmed its stake in Public Storage (NYSE:PSA) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,536 shares of the real estate investment trust’s stock after selling 1,805 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.17% of Public Storage worth $78,195,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. First Pacific Financial acquired a new stake in Public Storage during the 3rd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the 3rd quarter worth $27,000. Raiffeisen Bank International AG bought a new position in Public Storage during the 3rd quarter worth $30,000. Tradewinds Capital Management LLC bought a new position in Public Storage during the 3rd quarter worth $33,000. Finally, Wealth Watch Advisors INC bought a new position in Public Storage during the 3rd quarter worth $34,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BNP Paribas Exane lowered their price objective on Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Barclays raised their price objective on Public Storage from $331.00 to $347.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Truist Financial lifted their price target on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group decreased their price target on Public Storage from $345.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $308.22.

Public Storage Stock Up 2.6%

Shares of Public Storage stock opened at $309.51 on Friday. Public Storage has a one year low of $256.54 and a one year high of $312.95. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day moving average is $292.15 and its 200 day moving average is $283.82. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 4.01 and a beta of 1.02.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a $3.00 dividend. The ex-dividend date was Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio is presently 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.