Pensionfund PDN Buys New Position in Public Storage $PSA

Pensionfund PDN bought a new stake in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,989 shares of the real estate investment trust’s stock, valued at approximately $5,447,000. Public Storage comprises 3.6% of Pensionfund PDN’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Pacific Financial purchased a new stake in shares of Public Storage during the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage in the third quarter worth $27,000. Asset Dedication LLC grew its position in 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 acquiring an additional 50 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Public Storage in the third quarter valued at $30,000. Finally, Tradewinds Capital Management LLC purchased a new stake in Public Storage during the third quarter valued at about $33,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $271.26 on Tuesday. The firm has a fifty day simple moving average of $291.99 and a two-hundred day simple moving average of $284.18. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95. The company has a market capitalization of $47.61 billion, a PE ratio of 30.07, a P/E/G ratio of 5.37 and a beta of 0.99.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s payout ratio is 133.04%.

Analysts Set New Price Targets

PSA has been the subject of several research analyst reports. Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $330.00 to $295.00 in a research note on Thursday, February 5th. Evercore set a $302.00 price objective on Public Storage in a research report on Tuesday, February 17th. Morgan Stanley assumed coverage on Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. BNP Paribas Exane dropped their target price on Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Finally, Mizuho cut their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.