Dynamic Advisor Solutions LLC Sells 1,970 Shares of Public Storage $PSA

Dynamic Advisor Solutions LLC lowered its position in shares of Public Storage (NYSE:PSA) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,936 shares of the real estate investment trust’s stock after selling 1,970 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Public Storage were worth $2,059,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PSA. Norges Bank bought a new stake in shares of Public Storage in the second quarter worth $1,153,971,000. Vanguard Group Inc. grew its position in Public Storage by 10.8% in the third 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 purchasing an additional 2,253,225 shares in the last quarter. AQR Capital Management LLC grew its position in Public Storage by 498.7% in the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares in the last quarter. Centersquare Investment Management LLC increased its stake in Public Storage by 38.0% in the 3rd 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 buying an additional 315,370 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Public Storage by 375.7% in the 2nd 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 buying an additional 307,357 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 1.2%

Shares of NYSE:PSA opened at $268.05 on Wednesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. 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 company has a market capitalization of $47.05 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 5.48 and a beta of 0.99. The company has a 50-day simple moving average of $291.76 and a 200 day simple moving average of $283.97.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is presently 133.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Scotiabank lifted their target price on Public Storage from $319.00 to $321.00 and gave the company a “sector outperform” rating in a research report on Monday. The Goldman Sachs Group reiterated a “buy” rating and set a $330.00 target price on shares of Public Storage in a report on Friday, February 20th. JPMorgan Chase & Co. reduced their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Evercore set a $302.00 price target on Public Storage in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Hold” and a consensus price target of $306.53.

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.