Lansforsakringar Fondforvaltning AB publ Cuts Stake in Public Storage $PSA

Lansforsakringar Fondforvaltning AB publ lessened its holdings in Public Storage (NYSE:PSA) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,385 shares of the real estate investment trust’s stock after selling 12,652 shares during the period. Lansforsakringar Fondforvaltning AB publ owned approximately 0.06% of Public Storage worth $29,285,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. National Pension Service grew its position in shares of Public Storage by 4.2% during the third quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock worth $73,743,000 after buying an additional 10,345 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Public Storage by 57.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock worth $1,437,000 after acquiring an additional 1,816 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Public Storage by 14,992.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock worth $3,400,000 after acquiring an additional 11,694 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Public Storage by 19.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock worth $11,766,000 after acquiring an additional 6,814 shares in the last quarter. Finally, Vanderbilt University increased its position in shares of Public Storage by 103.1% in the 3rd quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock valued at $2,632,000 after purchasing an additional 4,626 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 2.2%

Public Storage stock opened at $305.00 on Monday. The company has a market capitalization of $53.53 billion, a P/E ratio of 33.81, a PEG ratio of 10.39 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 fifty-two week low of $256.54 and a fifty-two week high of $322.49. The stock has a 50-day simple moving average of $278.36 and a 200-day simple moving average of $282.72.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio is 133.04%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSA. UBS Group decreased their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target for the company. in a report on Thursday, February 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 price objective (down previously from $316.00) on shares of Public Storage in a report on Thursday, December 18th. BMO Capital Markets decreased their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research note on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.