Centersquare Investment Management LLC Purchases 315,370 Shares of Public Storage $PSA

Centersquare Investment Management LLC increased its position in Public Storage (NYSE:PSA) by 38.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,145,607 shares of the real estate investment trust’s stock after purchasing an additional 315,370 shares during the quarter. Public Storage accounts for 3.3% of Centersquare Investment Management LLC’s portfolio, making the stock its 7th largest position. Centersquare Investment Management LLC owned 0.65% of Public Storage worth $330,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Vanguard Group Inc. boosted its position in Public Storage by 10.8% in the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after buying an additional 2,253,225 shares during the last quarter. State Street Corp lifted its stake in shares of Public Storage by 1.2% in the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after acquiring an additional 126,113 shares in the last quarter. Norges Bank purchased a new position in Public Storage in the second quarter valued at about $1,153,971,000. JPMorgan Chase & Co. grew its stake in Public Storage by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock valued at $963,177,000 after purchasing an additional 177,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Public Storage by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock worth $857,674,000 after purchasing an additional 87,918 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $298.89 on Thursday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49. The company has a fifty day moving average price of $280.39 and a two-hundred day moving average price of $283.14. The company has a market cap of $52.46 billion, a PE ratio of 33.14, a P/E/G ratio of 6.15 and a beta of 1.01.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

Analyst Ratings Changes

Several equities analysts have recently commented on PSA shares. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Morgan Stanley initiated coverage on shares of Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. BNP Paribas Exane dropped their target price on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Finally, Barclays set a $331.00 target price on shares of Public Storage in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $307.00.

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.