Lansforsakringar Fondforvaltning AB publ Lowers Stock Holdings in Public Storage $PSA

Lansforsakringar Fondforvaltning AB publ lessened its stake in Public Storage (NYSE:PSA) by 11.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 101,385 shares of the real estate investment trust’s stock after selling 12,652 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Public Storage were worth $29,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Isthmus Partners LLC grew its stake in shares of Public Storage by 1.5% in the 3rd quarter. Isthmus Partners LLC now owns 42,563 shares of the real estate investment trust’s stock valued at $12,294,000 after purchasing an additional 620 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Public Storage during the third quarter worth $30,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Public Storage by 41.8% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 991 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 292 shares during the last quarter. Clear Creek Financial Management LLC increased its stake in Public Storage by 29.0% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,503 shares of the real estate investment trust’s stock valued at $434,000 after buying an additional 338 shares during the period. Finally, Presima Securities ULC raised its position in Public Storage by 5.2% during the 3rd quarter. Presima Securities ULC now owns 8,268 shares of the real estate investment trust’s stock worth $2,388,000 after buying an additional 405 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE:PSA opened at $305.00 on Monday. The firm has a market capitalization of $53.53 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 10.39 and a beta of 1.01. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day simple moving average is $278.36 and its 200-day simple moving average is $282.72. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio is 133.04%.

Analyst Upgrades and Downgrades

PSA has been the topic of several analyst reports. BNP Paribas Exane lowered their target price on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Truist Financial raised their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Raymond James Financial dropped their target price on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 18th. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price for the company. in a research note on Thursday, February 5th. Finally, Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $307.00.

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.