Public Storage $PSA Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Public Storage (NYSE:PSA) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,194,212 shares of the real estate investment trust’s stock after acquiring an additional 49,996 shares during the period. Dimensional Fund Advisors LP owned 1.25% of Public Storage worth $633,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC boosted its holdings in Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after acquiring an additional 373 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Public Storage during the 2nd quarter worth about $929,000. Assetmark Inc. increased its position in Public Storage by 11.0% during the 2nd quarter. Assetmark Inc. now owns 4,812 shares of the real estate investment trust’s stock worth $1,412,000 after purchasing an additional 476 shares in the last quarter. IFG Advisory LLC raised its holdings in Public Storage by 5.1% in the second quarter. IFG Advisory LLC now owns 1,117 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 54 shares during the period. Finally, iA Global Asset Management Inc. grew its stake in Public Storage by 28.9% during the second quarter. iA Global Asset Management Inc. now owns 7,196 shares of the real estate investment trust’s stock worth $2,111,000 after buying an additional 1,615 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of Public Storage stock opened at $305.59 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The firm’s 50-day simple moving average is $284.10 and its 200-day simple moving average is $283.87. The firm has a market cap of $53.63 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 6.30 and a beta of 0.99.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s payout ratio is 133.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Evercore set a $302.00 price target on Public Storage in a research report on Tuesday, February 17th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Wells Fargo & Company lowered shares of Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. Finally, Scotiabank upped their target price on shares of Public Storage from $300.00 to $319.00 and gave the company a “sector outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Hold” and a consensus price target of $306.13.

Public Storage 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.