Public Storage (PSA) Holdings Boosted by Rational Advisors LLC
Rational Advisors LLC grew its holdings in shares of Public Storage (NYSE:PSA) by 2,819.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,752 shares of the real estate investment trust’s stock after purchasing an additional 9,418 shares during the period. Rational Advisors LLC’s holdings in Public Storage were worth $2,124,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. increased its position in Public Storage by 2.0% during the 4th quarter. BlackRock Inc. now owns 15,991,641 shares of the real estate investment trust’s stock worth $3,236,867,000 after purchasing an additional 317,340 shares during the period. Oregon Public Employees Retirement Fund increased its position in Public Storage by 18,823.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 7,142,148 shares during the period. Geode Capital Management LLC increased its position in Public Storage by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after purchasing an additional 178,705 shares during the period. Cohen & Steers Inc. grew its holdings in shares of Public Storage by 1,482.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,258,079 shares of the real estate investment trust’s stock worth $457,058,000 after acquiring an additional 2,115,388 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Public Storage by 190.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,821,042 shares of the real estate investment trust’s stock worth $396,586,000 after acquiring an additional 1,194,522 shares during the period. Institutional investors own 79.77% of the company’s stock.
PSA stock traded up $0.11 on Thursday, reaching $231.87. The company had a trading volume of 372 shares, compared to its average volume of 744,309. Public Storage has a 1 year low of $193.89 and a 1 year high of $234.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $40.30 billion, a P/E ratio of 21.95, a PEG ratio of 5.39 and a beta of 0.26.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Tuesday, June 11th. Public Storage’s dividend payout ratio is presently 75.76%.
A number of research firms recently weighed in on PSA. Barclays restated a “sell” rating and issued a $218.00 price target on shares of Public Storage in a report on Tuesday, April 16th. Argus upped their price target on Public Storage to $240.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group upgraded Public Storage from an “underperform” rating to a “hold” rating and upped their price target for the stock from $181.00 to $201.00 in a report on Tuesday, April 9th. Bank of America set a $230.00 price target on Public Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $211.88.
Public Storage Company 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 March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 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 231 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 March 31, 2019.
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