Public Storage $PSA Shares Sold by Generali Investments Management Co LLC

Key Points

• Generali Investments Management cut its stake in Public Storage by 64.7% in Q4, selling 6,819 shares and leaving 3,725 shares valued at about $967,000.
• Public Storage paid a quarterly dividend of $3.00 (annualized $12.00) on March 31, a 3.9% yield, but the payout ratio stands at a high 133.04%, signaling limited earnings coverage.
• The stock trades near $308 while analysts have a consensus rating of Moderate Buy with an average price target of $308.50, and institutional investors own roughly 78.8% of the shares.

Generali Investments Management Co LLC decreased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 64.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,725 shares of the real estate investment trust's stock after selling 6,819 shares during the quarter. Generali Investments Management Co LLC's holdings in Public Storage were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service increased its stake in Public Storage by 4.2% during the 3rd quarter. National Pension Service now owns 255,300 shares of the real estate investment trust's stock worth $73,743,000 after buying an additional 10,345 shares during the period. J.W. Cole Advisors Inc. increased its stake in Public Storage by 57.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust's stock worth $1,437,000 after buying an additional 1,816 shares during the period. Cornerstone Planning Group LLC increased its stake in Public Storage by 14,992.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust's stock worth $3,400,000 after buying an additional 11,694 shares during the period. Vanderbilt University increased its stake in Public Storage by 103.1% during the 3rd quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust's stock worth $2,632,000 after buying an additional 4,626 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in Public Storage by 19.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust's stock worth $11,766,000 after buying an additional 6,814 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.7%

NYSE PSA opened at $308.57 on Friday. Public Storage has a one year low of $256.54 and a one year high of $313.51. The company has a 50-day simple moving average of $293.62 and a 200-day simple moving average of $284.46. 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 firm has a market capitalization of $54.16 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 4.13 and a beta of 1.02.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a $3.00 dividend. The ex-dividend date of this dividend was 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%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSA shares. Truist Financial boosted their target price on shares of Public Storage from $315.00 to $317.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. Wells Fargo & Company downgraded shares of Public Storage from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Barclays boosted their target price on shares of Public Storage from $347.00 to $352.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Evercore dropped their target price on shares of Public Storage from $311.00 to $309.00 in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA - Free Report).

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.