Public Storage $PSA Stake Lifted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Public Storage (NYSE:PSA) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,194,212 shares of the real estate investment trust’s stock after buying an additional 49,996 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Public Storage were worth $633,796,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Public Storage during the 2nd quarter valued at about $1,153,971,000. Vanguard Group Inc. raised its stake in 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 acquiring an additional 2,253,225 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Public Storage by 498.7% in the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after purchasing an additional 481,872 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of 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 valued at $330,909,000 after purchasing an additional 315,370 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Public Storage by 375.7% in 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. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 1.7%

Shares of NYSE PSA opened at $305.59 on Wednesday. The business has a 50 day simple moving average of $284.10 and a 200 day simple moving average of $283.87. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The stock has a market cap of $53.63 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 6.30 and a beta of 0.99. 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 declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, March 16th. Public Storage’s dividend payout ratio is 133.04%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSA. Scotiabank increased their price objective on shares of Public Storage from $300.00 to $319.00 and gave the company a “sector outperform” rating in a report on Monday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 price objective (down from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Evercore set a $302.00 price target on shares of Public Storage in a research report on Tuesday, February 17th. Wells Fargo & Company lowered shares of Public Storage from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, BNP Paribas Exane cut their target price on shares of Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $306.13.

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.