Dakota Wealth Management Makes New Investment in Public Storage $PSA

Dakota Wealth Management bought a new stake in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,627 shares of the real estate investment trust’s stock, valued at approximately $1,201,000.

Several other hedge funds also recently modified their holdings of PSA. Vanguard Group Inc. raised its stake in shares of Public Storage by 10.8% during the third quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock worth $6,663,394,000 after buying an additional 2,253,225 shares during the last quarter. AQR Capital Management LLC boosted its stake in Public Storage by 498.7% in the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after acquiring an additional 481,872 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Public Storage by 38.0% during the 3rd quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock worth $330,909,000 after acquiring an additional 315,370 shares during the period. 1832 Asset Management L.P. grew its holdings in Public Storage by 375.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock worth $114,190,000 after acquiring an additional 307,357 shares during the period. Finally, Barclays PLC raised its position in shares of Public Storage by 93.8% during the 3rd quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock valued at $174,165,000 after acquiring an additional 291,895 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Scotiabank increased their price target on Public Storage from $319.00 to $321.00 and gave the company a “sector outperform” rating in a research note on Monday, March 23rd. Morgan Stanley assumed coverage on Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. William Blair set a $305.00 target price on Public Storage in a research note on Monday, March 16th. Finally, Mizuho reduced their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Two research 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. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average target price of $306.53.

Public Storage Trading Down 0.0%

PSA opened at $265.97 on Monday. The firm’s fifty day moving average is $290.29 and its two-hundred day moving average is $283.46. The firm has a market cap of $46.68 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 5.47 and a beta of 0.99. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95. 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 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 dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 4.5%. Public Storage’s payout ratio is currently 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.