Czech National Bank Has $14.31 Million Stock Position in Public Storage $PSA

Czech National Bank lifted its stake in shares of Public Storage (NYSE:PSA) by 4.5% during the second quarter, HoldingsChannel reports. The firm owned 44,970 shares of the real estate investment trust’s stock after acquiring an additional 1,952 shares during the quarter. Czech National Bank’s holdings in Public Storage were worth $14,314,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter valued at $27,000. Bayban bought a new stake in Public Storage during the fourth quarter worth $26,000. Wealth Watch Advisors INC bought a new stake in Public Storage during the third quarter worth $34,000. Raiffeisen Bank International AG lifted its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 37 shares during the last quarter. Finally, Knuff & Co LLC acquired a new stake in Public Storage in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Stock Up 0.4%

Public Storage stock opened at $328.20 on Friday. The company’s 50-day moving average price is $319.85 and its two-hundred day moving average price is $303.23. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a market cap of $57.62 billion, a P/E ratio of 31.32, a P/E/G ratio of 3.87 and a beta of 0.96. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

Analyst Ratings Changes

A number of research analysts have recently commented on PSA shares. Mizuho lifted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group raised their target price on shares of Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. Finally, Citigroup lifted their price target on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $326.05.

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.