Teachers Retirement System of The State of Kentucky lessened its stake in Public Storage (NYSE:PSA – Get Rating) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,071 shares of the real estate investment trust’s stock after selling 481 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Public Storage were worth $4,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of PSA. MAI Capital Management acquired a new position in Public Storage in the fourth quarter valued at $277,000. O Shaughnessy Asset Management LLC boosted its stake in Public Storage by 79.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,757 shares of the real estate investment trust’s stock valued at $1,782,000 after acquiring an additional 2,099 shares in the last quarter. Level Four Advisory Services LLC acquired a new position in Public Storage in the fourth quarter valued at $294,000. Hoylecohen LLC boosted its stake in Public Storage by 14.0% in the fourth quarter. Hoylecohen LLC now owns 1,841 shares of the real estate investment trust’s stock valued at $689,000 after acquiring an additional 226 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Public Storage in the fourth quarter valued at $164,000. Institutional investors and hedge funds own 78.19% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on PSA. UBS Group decreased their price objective on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. Evercore ISI set a $348.00 target price on shares of Public Storage in a report on Monday, June 20th. Jefferies Financial Group reduced their target price on shares of Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Truist Financial reduced their target price on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Finally, Citigroup reaffirmed a “buy” rating and issued a $367.00 target price on shares of Public Storage in a report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $367.33.
Insider Buying and Selling at Public Storage
Public Storage Trading Down 0.2 %
NYSE PSA opened at $313.15 on Monday. The stock has a market capitalization of $54.95 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.86 and a beta of 0.33. Public Storage has a 52-week low of $292.32 and a 52-week high of $421.76. The firm has a 50-day moving average price of $332.11 and a 200 day moving average price of $344.07. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.29.
Public Storage Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a $2.00 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.55%. Public Storage’s dividend payout ratio (DPR) is presently 68.14%.
Public Storage Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.
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