Brevan Howard Capital Management LP Has $4.37 Million Stake in Public Storage $PSA

Brevan Howard Capital Management LP raised its position in shares of Public Storage (NYSE:PSA) by 303.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,142 shares of the real estate investment trust’s stock after acquiring an additional 11,392 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Public Storage were worth $4,374,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Public Storage in the 2nd quarter worth about $1,153,971,000. Vanguard Group Inc. boosted its position in shares of Public Storage by 10.8% during the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after purchasing an additional 2,253,225 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares in the last quarter. Centersquare Investment Management LLC grew its stake in Public Storage by 38.0% during the third quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock worth $330,909,000 after purchasing an additional 315,370 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Public Storage by 375.7% during the second quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock worth $114,190,000 after purchasing an additional 307,357 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSA. Barclays boosted their price target on Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Evercore set a $302.00 price objective on shares of Public Storage in a research report on Tuesday, February 17th. Truist Financial lifted their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price on the stock. in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $307.13.

Public Storage Trading Up 0.1%

Shares of Public Storage stock opened at $298.11 on Monday. The stock has a market capitalization of $52.32 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 6.03 and a beta of 0.99. Public Storage has a 52 week low of $256.54 and a 52 week high of $312.95. The stock has a 50 day moving average price of $291.14 and a two-hundred day moving average price of $284.78. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75.

Public Storage Announces Dividend

The company also recently announced 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 dividend yield of 4.0%. The ex-dividend date is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

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.