Russell Investments Group Ltd. Has $171.69 Million Stock Holdings in Public Storage $PSA

Russell Investments Group Ltd. trimmed its holdings in Public Storage (NYSE:PSA) by 41.2% during the third quarter, Holdings Channel reports. The institutional investor owned 594,494 shares of the real estate investment trust’s stock after selling 417,110 shares during the quarter. Russell Investments Group Ltd.’s holdings in Public Storage were worth $171,686,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Pacific Financial bought a new stake in shares of Public Storage during the third quarter worth about $26,000. Asset Dedication LLC raised its holdings in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 50 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Public Storage in the 3rd quarter valued at about $30,000. Tradewinds Capital Management LLC bought a new position in Public Storage in the 3rd quarter valued at about $33,000. Finally, Quent Capital LLC acquired a new position in Public Storage during the 3rd quarter valued at about $37,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on PSA shares. Barclays boosted their price objective on Public Storage from $331.00 to $347.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group dropped their target price on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 target price on shares of Public Storage in a research report on Friday, February 20th. Morgan Stanley began coverage on Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Hold” and a consensus price target of $307.13.

Public Storage Trading Up 0.4%

Shares of PSA stock opened at $308.28 on Monday. 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 $54.11 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 6.24 and a beta of 0.99. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The company has a 50-day simple moving average of $286.93 and a two-hundred day simple moving average of $284.37.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s dividend payout ratio 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.