OVERSEA CHINESE BANKING Corp Ltd Has $3.55 Million Stock Position in Public Storage $PSA

OVERSEA CHINESE BANKING Corp Ltd increased its position in Public Storage (NYSE:PSA - Free Report) by 86.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,676 shares of the real estate investment trust's stock after purchasing an additional 6,337 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Public Storage were worth $3,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Empowered Funds LLC increased its position 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 worth $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC bought a new position in Public Storage during the second quarter worth about $929,000. Nebula Research & Development LLC bought a new position in Public Storage during the second quarter worth about $1,113,000. Treasurer of the State of North Carolina boosted its holdings in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust's stock worth $21,647,000 after buying an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in Public Storage by 219.8% during the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust's stock worth $14,140,000 after buying an additional 33,122 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Down 1.5%

NYSE:PSA opened at $303.86 on Thursday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $313.51. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $53.33 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 4.09 and a beta of 1.02. The business's 50-day simple moving average is $293.14 and its 200-day simple moving average is $284.15.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued 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 was Monday, March 16th. Public Storage's payout ratio is 133.04%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "buy" rating and set a $330.00 target price on shares of Public Storage in a report on Friday, February 20th. Weiss Ratings restated a "hold (c)" rating on shares of Public Storage in a report on Thursday, January 22nd. Scotiabank raised their target price on Public Storage from $319.00 to $321.00 and gave the stock a "sector outperform" rating in a report on Monday, March 23rd. William Blair set a $305.00 target price on Public Storage in a report on Monday, March 16th. Finally, Wolfe Research cut Public Storage from an "outperform" rating to a "peer perform" rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $308.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.