14,813 Shares in Public Storage $PSA Purchased by Pensionfund Sabic

Pensionfund Sabic acquired a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,813 shares of the real estate investment trust’s stock, valued at approximately $3,844,000. Public Storage comprises about 1.0% of Pensionfund Sabic’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial purchased a new position in Public Storage in the third quarter worth about $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the third quarter valued at approximately $27,000. Asset Dedication LLC grew its holdings in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 50 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Public Storage during the third quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $33,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Down 1.2%

Shares of Public Storage stock opened at $268.05 on Wednesday. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95. 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’s 50 day moving average is $291.76 and its 200 day moving average is $283.97. The company has a market cap of $47.05 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 5.48 and a beta of 0.99.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s dividend payout ratio is presently 133.04%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday. Evercore set a $302.00 target price on Public Storage in a report on Tuesday, February 17th. JPMorgan Chase & Co. decreased their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research note on Monday. 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 on the stock. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.