Swiss National Bank Has $131.46 Million Holdings in Public Storage $PSA

Swiss National Bank trimmed its holdings in Public Storage (NYSE:PSA) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,100 shares of the real estate investment trust’s stock after selling 22,800 shares during the period. Swiss National Bank owned 0.26% of Public Storage worth $131,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSA. First Pacific Financial acquired a new position in Public Storage in the 3rd quarter valued at $26,000. Asset Dedication LLC increased its position in shares of Public Storage by 111.1% in the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Public Storage in the third quarter worth $30,000. Tradewinds Capital Management LLC acquired a new position in Public Storage in the third quarter valued at about $33,000. Finally, Quent Capital LLC bought a new stake in Public Storage during the third quarter worth about $37,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $305.95 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The stock has a market cap of $53.70 billion, a PE ratio of 33.92, a PEG ratio of 6.21 and a beta of 0.99. Public Storage has a 12-month low of $256.54 and a 12-month high of $314.31. The business has a 50-day simple moving average of $288.77 and a two-hundred day simple moving average of $284.60.

Public Storage Announces Dividend

The firm also recently disclosed 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 yield of 3.9%. The ex-dividend date is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is 133.04%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. BMO Capital Markets reduced their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Raymond James Financial dropped their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 18th. Finally, Morgan Stanley began coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $307.13.

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.