Skandinaviska Enskilda Banken AB publ Reduces Position in Public Storage $PSA

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Public Storage (NYSE:PSA) by 46.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 56,494 shares of the real estate investment trust’s stock after selling 48,726 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Public Storage were worth $16,318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Public Storage by 10.8% during the third quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock worth $6,663,394,000 after acquiring an additional 2,253,225 shares during the last quarter. Texas Yale Capital Corp. lifted its stake in Public Storage by 19.1% in the 3rd quarter. Texas Yale Capital Corp. now owns 8,806 shares of the real estate investment trust’s stock worth $2,544,000 after purchasing an additional 1,411 shares in the last quarter. Atticus Wealth Management LLC boosted its holdings in shares of Public Storage by 5.7% during the 3rd quarter. Atticus Wealth Management LLC now owns 1,347 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 73 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Public Storage by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after purchasing an additional 177,421 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Public Storage by 0.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 104,151 shares of the real estate investment trust’s stock valued at $30,084,000 after purchasing an additional 686 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.5%

Shares of PSA stock opened at $301.99 on Wednesday. The company has a 50-day moving average of $276.64 and a two-hundred day moving average of $282.31. The firm has a market cap of $52.99 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 10.24 and a beta of 1.01. Public Storage has a 1-year low of $256.54 and a 1-year high of $322.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75.

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 given a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage’s payout ratio is presently 133.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSA. BNP Paribas Exane reduced their price objective on Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $301.00 target price (down from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. UBS Group reduced their price target on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Evercore set a $302.00 price objective on shares of Public Storage in a report on Tuesday. Finally, Wolfe Research cut shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $306.44.

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.