Swiss Life Asset Management Ltd Grows Stock Holdings in Public Storage $PSA

Swiss Life Asset Management Ltd raised its holdings in shares of Public Storage (NYSE:PSA) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,448 shares of the real estate investment trust’s stock after acquiring an additional 4,762 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Public Storage were worth $9,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in shares of Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC bought a new position in Public Storage in the 2nd quarter worth about $929,000. SG Americas Securities LLC grew its holdings in Public Storage by 147.4% during the 2nd quarter. SG Americas Securities LLC now owns 5,522 shares of the real estate investment trust’s stock valued at $1,620,000 after buying an additional 3,290 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in Public Storage by 12.7% during the 2nd quarter. Kingsview Wealth Management LLC now owns 1,415 shares of the real estate investment trust’s stock valued at $415,000 after buying an additional 160 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its position in shares of Public Storage by 121.2% during the second quarter. Wealthspire Advisors LLC now owns 3,198 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 1,752 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSA. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group reduced their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Truist Financial increased their target price on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Finally, Barclays boosted their price target on shares of Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $307.00.

Public Storage Trading Down 4.1%

Shares of Public Storage stock opened at $265.99 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a 1 year low of $256.54 and a 1 year high of $312.95. The firm has a market cap of $46.68 billion, a PE ratio of 29.49, a PEG ratio of 5.60 and a beta of 0.99. The company has a 50 day simple moving average of $292.15 and a two-hundred day simple moving average of $284.40.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s payout ratio is currently 133.04%.

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.