Andra AP fonden Sells 40,600 Shares of Public Storage $PSA

Andra AP fonden decreased its position in shares of Public Storage (NYSE:PSA) by 42.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,200 shares of the real estate investment trust’s stock after selling 40,600 shares during the period. Andra AP fonden’s holdings in Public Storage were worth $15,656,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. DNB Asset Management AS grew its position in shares of Public Storage by 3.3% during the 3rd quarter. DNB Asset Management AS now owns 31,252 shares of the real estate investment trust’s stock worth $9,027,000 after purchasing an additional 989 shares in the last quarter. Choreo LLC raised its position in shares of Public Storage by 4.7% in the third quarter. Choreo LLC now owns 2,851 shares of the real estate investment trust’s stock valued at $823,000 after buying an additional 127 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Public Storage by 4.2% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 433,462 shares of the real estate investment trust’s stock valued at $125,205,000 after buying an additional 17,474 shares during the period. Intech Investment Management LLC increased its position in shares of Public Storage by 232.8% in the third quarter. Intech Investment Management LLC now owns 25,471 shares of the real estate investment trust’s stock worth $7,357,000 after purchasing an additional 17,818 shares during the period. Finally, Centersquare Investment Management LLC raised its stake in Public Storage by 38.0% in the third quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock valued at $330,909,000 after purchasing an additional 315,370 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $306.98 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50 day moving average price is $282.18 and its two-hundred day moving average price is $283.47. The stock has a market capitalization of $53.88 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 6.16 and a beta of 1.01. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49.

Public Storage Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on PSA. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price target on shares of Public Storage in a report on Friday, February 20th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $330.00 to $295.00 in a report on Thursday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $301.00 target price (down from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. BMO Capital Markets dropped their price target 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, Morgan Stanley initiated coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $307.00.

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.