Public Storage $PSA Shares Purchased by Capital International Investors

Key Points

• Capital International Investors increased its stake in Public Storage by 1.1% in Q3 to 448,785 shares (about 0.26% of the company), valued at roughly $129.63 million.
• Public Storage declared a quarterly dividend of $3.00 (annualized $12.00) with an ex-dividend date of March 16, implying a yield of about 4.0% and a payout ratio near 133%.
• The analyst consensus is "Hold" with an average target of $307.13, and several firms have recently cut ratings or trimmed price targets on the stock.

Capital International Investors raised its position in Public Storage (NYSE:PSA - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 448,785 shares of the real estate investment trust's stock after buying an additional 4,779 shares during the period. Capital International Investors owned about 0.26% of Public Storage worth $129,631,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSA. Empowered Funds LLC boosted its stake in shares of 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 acquiring an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Public Storage in the 2nd quarter valued at $929,000. AE Wealth Management LLC lifted its holdings in Public Storage by 4.7% in the 2nd quarter. AE Wealth Management LLC now owns 1,630 shares of the real estate investment trust's stock valued at $478,000 after purchasing an additional 73 shares in the last quarter. Profund Advisors LLC lifted its holdings in Public Storage by 7.7% in the 2nd quarter. Profund Advisors LLC now owns 2,324 shares of the real estate investment trust's stock valued at $682,000 after purchasing an additional 166 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Public Storage by 8.1% during the 2nd quarter. ProShare Advisors LLC now owns 32,585 shares of the real estate investment trust's stock worth $9,561,000 after purchasing an additional 2,448 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSA. Wolfe Research cut shares of Public Storage from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 26th. JPMorgan Chase & Co. restated a "neutral" rating and set a $301.00 price target (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Bank of America cut shares of Public Storage from a "buy" rating to a "neutral" rating and set a $310.00 price objective for the company. in a research note on Thursday, February 5th. Morgan Stanley assumed coverage on shares of Public Storage in a report on Friday, December 5th. They issued an "equal weight" rating and a $290.00 price objective for the company. Finally, Evercore set a $302.00 target price on shares of Public Storage in a research note on Tuesday, February 17th. 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $307.13.

Public Storage Stock Down 1.9%

NYSE PSA opened at $300.14 on Thursday. The business's fifty day simple moving average is $289.58 and its 200-day simple moving average is $284.71. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a market cap of $52.68 billion, a PE ratio of 33.27, a P/E/G ratio of 6.20 and a beta of 0.99. Public Storage has a 52 week low of $256.54 and a 52 week high of $312.95.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued 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 payout ratio is presently 133.04%.

About Public Storage

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.

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