Public Storage $PSA Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 37.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,085 shares of the real estate investment trust’s stock after selling 1,874 shares during the period. Pallas Capital Advisors LLC’s holdings in Public Storage were worth $891,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. First Pacific Financial acquired a new position in shares of Public Storage during the 3rd quarter worth $26,000. Asset Dedication LLC boosted its holdings in Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares in the last quarter. NewSquare Capital LLC grew its position in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares during the period. Tradewinds Capital Management LLC acquired a new position in Public Storage during the third quarter worth about $33,000. Finally, Quent Capital LLC purchased a new position in Public Storage in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.5%

PSA stock opened at $301.99 on Wednesday. The company has a 50 day moving average price of $276.64 and a two-hundred day moving average price of $282.31. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $52.99 billion, a P/E ratio of 33.48, a PEG ratio of 10.24 and a beta of 1.01. Public Storage has a one year low of $256.54 and a one year high of $322.49.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, March 16th. Public Storage’s dividend payout ratio is presently 133.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PSA shares. Barclays set a $331.00 price target on Public Storage in a report on Tuesday, January 13th. Morgan Stanley started coverage on Public Storage in a research report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target for the company. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a research report on Thursday, February 5th. Royal Bank Of Canada dropped their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $301.00 price target (down previously from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage presently has a consensus rating of “Hold” and a consensus price target of $306.44.

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.