Exchange Traded Concepts LLC Has $147,000 Holdings in Public Storage $PSA

Exchange Traded Concepts LLC lessened its stake in Public Storage (NYSE:PSA) by 88.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 566 shares of the real estate investment trust’s stock after selling 4,284 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Public Storage were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 2,253,225 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after purchasing an additional 481,872 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in Public Storage by 38.0% during the third quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock worth $330,909,000 after purchasing an additional 315,370 shares during the last quarter. Barclays PLC boosted its holdings in Public Storage by 93.8% during the third quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock worth $174,165,000 after purchasing an additional 291,895 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Public Storage by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after purchasing an additional 177,421 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PSA shares. Scotiabank increased their target price on shares of Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a report on Monday, March 23rd. Evercore set a $302.00 target price on shares of Public Storage in a report on Tuesday, February 17th. JPMorgan Chase & Co. reduced their target price on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. William Blair set a $305.00 target price on shares of Public Storage in a report on Monday, March 16th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $306.53.

Public Storage Stock Performance

Shares of PSA stock opened at $279.58 on Wednesday. The stock has a market cap of $49.07 billion, a P/E ratio of 31.00, a P/E/G ratio of 5.75 and a beta of 1.02. 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 company has a fifty day moving average price of $289.11 and a two-hundred day moving average price of $282.96. Public Storage has a one year low of $256.54 and a one year high of $312.95.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 4.3%. Public Storage’s dividend payout ratio (DPR) 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.