PensionDanmark Pensionsforsikringsaktieselskab Has $8.47 Million Holdings in Public Storage $PSA

PensionDanmark Pensionsforsikringsaktieselskab lifted its position in Public Storage (NYSE:PSA) by 15.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,610 shares of the real estate investment trust’s stock after buying an additional 3,588 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Public Storage were worth $8,470,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSA. Vanguard Group Inc. lifted its stake in Public Storage by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after acquiring an additional 2,274,397 shares during the last quarter. Norges Bank bought a new position in shares of Public Storage in the 4th quarter valued at about $1,163,751,000. Capital International Investors increased its stake in shares of Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Public Storage by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after purchasing an additional 66,445 shares during the last quarter. Finally, Cohen & Steers Inc. raised its holdings in shares of Public Storage by 9.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock valued at $1,036,375,000 after purchasing an additional 339,882 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Public Storage Trading Up 0.4%

Shares of PSA stock opened at $328.20 on Friday. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a market capitalization of $57.62 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.96. The firm has a 50 day moving average price of $319.85 and a two-hundred day moving average price of $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.

Public Storage Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PSA. Raymond James Financial began coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating for the company. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Scotiabank raised their price objective on Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Evercore set a $316.00 target price on Public Storage in a report on Monday, July 6th. Finally, UBS Group increased their price target on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.