Public Storage $PSA Shares Bought by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd increased its stake in Public Storage (NYSE:PSA) by 777.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,605 shares of the real estate investment trust’s stock after purchasing an additional 2,308 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Public Storage were worth $752,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. First Pacific Financial purchased a new position in Public Storage in the 3rd quarter worth approximately $26,000. Asset Dedication LLC lifted its position in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Public Storage in the third quarter valued at $30,000. NewSquare Capital LLC grew its holdings in Public Storage by 60.6% during the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC purchased a new stake in Public Storage during the 3rd quarter worth $33,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 1.4%

Shares of NYSE:PSA opened at $303.49 on Friday. The company’s fifty day moving average is $281.23 and its two-hundred day moving average is $283.28. 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 1-year low of $256.54 and a 1-year high of $322.49. The stock has a market capitalization of $53.27 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 6.07 and a beta of 1.01.

Public Storage Announces Dividend

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

A number of research firms have weighed in on PSA. BMO Capital Markets decreased their price objective on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Morgan Stanley initiated coverage on Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective for the company. in a research note on Tuesday, January 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $301.00 target price (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Finally, Wells Fargo & Company downgraded shares of Public Storage from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of “Hold” and a consensus price target of $307.00.

Public Storage Company 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.