Public Storage (PSA) To Go Ex-Dividend on March 16th

Public Storage (NYSE:PSA) declared a quarterly dividend on Tuesday, February 17th. Investors of record on Monday, March 16th will be paid a dividend of 3.00 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, March 16th.

Public Storage has raised its dividend payment by an average of 0.1%per year over the last three years. Public Storage has a dividend payout ratio of 113.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Public Storage to earn $17.22 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 69.7%.

Public Storage Stock Down 1.1%

Shares of PSA opened at $298.57 on Thursday. The firm has a 50 day simple moving average of $277.27 and a two-hundred day simple moving average of $282.43. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a one year low of $256.54 and a one year high of $322.49. The company has a market cap of $52.39 billion, a P/E ratio of 33.10, a P/E/G ratio of 10.29 and a beta of 1.01.

Hedge Funds Weigh In On Public Storage

A number of hedge funds have recently modified their holdings of PSA. Corient Private Wealth LLC grew its stake in shares of Public Storage by 191.8% in the fourth quarter. Corient Private Wealth LLC now owns 176,953 shares of the real estate investment trust’s stock worth $45,919,000 after purchasing an additional 116,311 shares during the last quarter. Strive Financial Group LLC acquired a new position in Public Storage during the 4th quarter worth about $201,000. Beacon Pointe Advisors LLC grew its position in shares of Public Storage by 7.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 9,840 shares of the real estate investment trust’s stock valued at $2,554,000 after buying an additional 655 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in shares of Public Storage by 43.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 133,666 shares of the real estate investment trust’s stock valued at $36,917,000 after buying an additional 40,196 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in shares of Public Storage during the fourth quarter worth about $956,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

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.