APG Asset Management US Inc. Buys 14,367 Shares of Public Storage $PSA

APG Asset Management US Inc. increased its stake in Public Storage (NYSE:PSA) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,184,979 shares of the real estate investment trust’s stock after purchasing an additional 14,367 shares during the quarter. Public Storage comprises about 4.7% of APG Asset Management US Inc.’s holdings, making the stock its 6th largest position. APG Asset Management US Inc.’s holdings in Public Storage were worth $635,130,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Patrick M Sweeney & Associates Inc. boosted its holdings in Public Storage by 3.5% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 36 shares during the period. CoreCap Advisors LLC lifted its position in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 37 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in shares of Public Storage by 2.9% in the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after purchasing an additional 38 shares during the period. Cape ANN Savings Bank grew its holdings in Public Storage by 1.4% during the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock valued at $807,000 after purchasing an additional 38 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake 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 worth $31,000 after buying an additional 40 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of analyst reports. Evercore set a $302.00 price objective on shares of Public Storage in a research report on Tuesday, February 17th. Truist Financial increased their price target on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. UBS Group dropped their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, Barclays set a $331.00 target price on Public Storage in a research note on Tuesday, January 13th. Two 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.00.

Public Storage Stock Performance

PSA 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 has a market capitalization of $53.88 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 6.22 and a beta of 1.01. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The stock’s fifty day moving average is $282.18 and its two-hundred day moving average is $283.49.

Public Storage Announces Dividend

The company also recently disclosed 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 (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.