Handelsbanken Fonder AB Lowers Position in Public Storage $PSA

Handelsbanken Fonder AB trimmed its position in shares of Public Storage (NYSE:PSA) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,468 shares of the real estate investment trust’s stock after selling 3,576 shares during the quarter. Handelsbanken Fonder AB’s holdings in Public Storage were worth $20,066,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSA. Patrick M Sweeney & Associates Inc. boosted its holdings in Public Storage by 3.5% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 36 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Public Storage by 7.0% in the 3rd quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37 shares during the period. KCM Investment Advisors LLC lifted its holdings in shares of Public Storage by 2.9% in the 2nd quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after buying an additional 38 shares during the period. Cape ANN Savings Bank boosted its stake in shares of Public Storage by 1.4% in the third quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock valued at $807,000 after buying an additional 38 shares in the last quarter. Finally, NewSquare Capital LLC grew its holdings 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 acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BMO Capital Markets cut their price objective on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective for the company. in a research note on Tuesday, January 20th. Wells Fargo & Company downgraded shares of Public Storage from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $330.00 to $295.00 in a report on Thursday, February 5th. Finally, Mizuho dropped their target price on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $307.00.

Public Storage Stock Performance

NYSE:PSA opened at $306.98 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $53.88 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 6.22 and a beta of 1.01. The firm has a 50-day moving average price of $282.18 and a two-hundred day moving average price of $283.49. Public Storage has a twelve month low of $256.54 and a twelve month high of $322.49.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date 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.