Public Storage $PSA Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of Public Storage (NYSE:PSA) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,797 shares of the real estate investment trust’s stock after purchasing an additional 8,436 shares during the period. Handelsbanken Fonder AB’s holdings in Public Storage were worth $25,718,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Public Storage in the 4th quarter valued at approximately $1,163,751,000. Capital International Investors raised its stake in shares of Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after buying an additional 3,686,211 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after buying an additional 2,274,397 shares during the period. First Trust Advisors LP lifted its holdings in shares of Public Storage by 287.7% in the 4th quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after buying an additional 535,465 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Public Storage by 498.7% in the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after buying an additional 481,872 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA opened at $323.96 on Thursday. The stock has a market cap of $56.89 billion, a P/E ratio of 30.91, a P/E/G ratio of 3.83 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $321.39 and its 200 day simple moving average is $304.09. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio is 114.50%.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BNP Paribas Exane upped their price objective on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Raymond James Financial began coverage on Public Storage in a report on Thursday, July 16th. They issued a “market perform” rating for the company. The Goldman Sachs Group restated a “buy” rating and set a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. Jefferies Financial Group upped their price target on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Finally, Evercore set a $316.00 price target on shares of Public Storage in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $326.05.

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.