Schroder Investment Management Group Has $87.34 Million Stake in Public Storage $PSA

Schroder Investment Management Group decreased its stake in shares of Public Storage (NYSE:PSA) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 302,688 shares of the real estate investment trust’s stock after selling 9,778 shares during the quarter. Schroder Investment Management Group’s holdings in Public Storage were worth $87,335,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PSA. Empowered Funds LLC increased its stake in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after acquiring an additional 373 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Public Storage during the second quarter valued at approximately $929,000. Savant Capital LLC raised its stake in shares of Public Storage by 34.2% in the second quarter. Savant Capital LLC now owns 11,609 shares of the real estate investment trust’s stock valued at $3,406,000 after purchasing an additional 2,956 shares in the last quarter. KCM Investment Advisors LLC raised its stake in shares of Public Storage by 2.9% in the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after purchasing an additional 38 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in Public Storage by 4.7% in the second quarter. AE Wealth Management LLC now owns 1,630 shares of the real estate investment trust’s stock worth $478,000 after purchasing an additional 73 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.4%

Shares of NYSE PSA opened at $306.75 on Tuesday. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The firm’s 50-day simple moving average is $287.88 and its 200 day simple moving average is $284.51. 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 company has a market cap of $53.84 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 6.24 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. Shareholders of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage’s payout ratio is currently 133.04%.

Analysts Set New Price Targets

Several brokerages have issued reports on PSA. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. BNP Paribas Exane decreased their target price on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Scotiabank increased their price target on shares of Public Storage from $300.00 to $319.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 2nd. BMO Capital Markets dropped their price target on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Finally, Wall Street Zen cut shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $307.13.

Public Storage Company Profile

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.