APG Asset Management US Inc. Acquires 14,367 Shares of Public Storage $PSA

APG Asset Management US Inc. boosted its holdings in shares of Public Storage (NYSE:PSA) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,184,979 shares of the real estate investment trust’s stock after acquiring an additional 14,367 shares during the period. Public Storage comprises 4.7% of APG Asset Management US Inc.’s portfolio, making the stock its 6th largest holding. APG Asset Management US Inc. owned approximately 1.25% of Public Storage worth $635,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PSA. First Pacific Financial acquired a new stake in shares of Public Storage in the third quarter valued at approximately $26,000. Asset Dedication LLC lifted 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 valued at $28,000 after buying an additional 50 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Public Storage during the 3rd quarter valued at $30,000. NewSquare Capital LLC increased its position in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC purchased a new position in Public Storage during the third quarter worth $33,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Raymond James Financial reduced their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 18th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price for the company. in a research note on Thursday, February 5th. Mizuho decreased their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Finally, BNP Paribas Exane cut their price objective on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $307.00.

Public Storage Trading Up 1.0%

NYSE PSA opened at $306.98 on Friday. The firm has a market capitalization of $53.88 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 6.22 and a beta of 1.01. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. Public Storage has a one year low of $256.54 and a one year high of $322.49. The company’s 50 day moving average price is $282.18 and its 200 day moving average price is $283.49.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s 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.