Public Storage $PSA Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its position in Public Storage (NYSE:PSA) by 36.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,954 shares of the real estate investment trust’s stock after purchasing an additional 3,978 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Public Storage were worth $4,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Public Storage during the second quarter worth approximately $1,153,971,000. Vanguard Group Inc. raised its stake in Public Storage by 10.8% during the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after acquiring an additional 2,253,225 shares in the last quarter. AQR Capital Management LLC boosted its position in Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after acquiring an additional 481,872 shares during the period. Centersquare Investment Management LLC grew its stake in shares of 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 worth $330,909,000 after purchasing an additional 315,370 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Public Storage by 375.7% during the second quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock valued at $114,190,000 after purchasing an additional 307,357 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PSA shares. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Wells Fargo & Company cut shares of Public Storage from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $295.00 in a report on Thursday, February 5th. Evercore set a $302.00 price objective on shares of Public Storage in a research note on Tuesday, February 17th. Mizuho cut their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Hold” and an average target price of $306.13.

Public Storage Trading Down 1.7%

Shares of NYSE:PSA opened at $305.59 on Wednesday. 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 $53.63 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 6.30 and a beta of 0.99. Public Storage has a 1-year low of $256.54 and a 1-year high of $322.49. The company has a 50 day moving average price of $284.10 and a 200 day moving average price of $283.87.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued 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 is Monday, March 16th. Public Storage’s payout ratio is presently 133.04%.

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.