Candriam Luxembourg S.C.A. lowered its stake in shares of Public Storage (NYSE:PSA) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,749 shares of the real estate investment trust’s stock after selling 1,289 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Public Storage were worth $2,251,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management raised its stake in shares of Public Storage by 7.3% during the 4th quarter. Ritholtz Wealth Management now owns 1,144 shares of the real estate investment trust’s stock worth $264,000 after purchasing an additional 78 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Public Storage by 5.7% during the 4th quarter. DNB Asset Management AS now owns 21,770 shares of the real estate investment trust’s stock worth $5,027,000 after purchasing an additional 1,174 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Public Storage by 32.1% during the 4th quarter. Raymond James Trust N.A. now owns 1,530 shares of the real estate investment trust’s stock worth $353,000 after purchasing an additional 372 shares in the last quarter. Virtus ETF Advisers LLC raised its stake in shares of Public Storage by 27.5% during the 3rd quarter. Virtus ETF Advisers LLC now owns 6,508 shares of the real estate investment trust’s stock worth $1,449,000 after purchasing an additional 1,402 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Public Storage by 8.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,284 shares of the real estate investment trust’s stock worth $6,077,000 after acquiring an additional 2,080 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.
Shares of NYSE PSA opened at $228.05 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s fifty day moving average price is $224.76 and its two-hundred day moving average price is $218.80. Public Storage has a one year low of $155.37 and a one year high of $240.75. The firm has a market cap of $39.87 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 7.00 and a beta of 0.07.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, December 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.51%. Public Storage’s payout ratio is 74.42%.
PSA has been the topic of a number of recent analyst reports. Truist raised Public Storage from a “hold” rating to a “buy” rating and boosted their target price for the stock from $233.00 to $245.00 in a report on Friday, January 22nd. Raymond James lowered Public Storage from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 6th. Finally, Morgan Stanley initiated coverage on Public Storage in a report on Friday, January 22nd. They set an “equal weight” rating and a $221.00 target price on the stock. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Public Storage currently has an average rating of “Hold” and a consensus target price of $214.60.
Public Storage Company Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the ÂShurgardÂ brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.
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