Brevan Howard Capital Management LP Has $4.37 Million Stock Holdings in Public Storage $PSA

Brevan Howard Capital Management LP boosted its stake in Public Storage (NYSE:PSA) by 303.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,142 shares of the real estate investment trust’s stock after purchasing an additional 11,392 shares during the period. Brevan Howard Capital Management LP’s holdings in Public Storage were worth $4,374,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ausdal Financial Partners Inc. bought a new stake in shares of Public Storage during the third quarter worth $201,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Public Storage by 37.5% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,961 shares of the real estate investment trust’s stock valued at $1,432,000 after acquiring an additional 1,353 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Public Storage by 15.7% in the 3rd quarter. Bank of America Corp DE now owns 984,082 shares of the real estate investment trust’s stock valued at $284,252,000 after acquiring an additional 133,754 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Public Storage by 26.9% during the 3rd quarter. Bank of Nova Scotia now owns 23,157 shares of the real estate investment trust’s stock valued at $6,689,000 after acquiring an additional 4,904 shares in the last quarter. Finally, Algert Global LLC grew its position in Public Storage by 11.4% during the 3rd quarter. Algert Global LLC now owns 10,656 shares of the real estate investment trust’s stock worth $3,078,000 after acquiring an additional 1,090 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Public Storage stock opened at $298.11 on Monday. The stock’s 50 day moving average is $291.14 and its 200 day moving average is $284.78. Public Storage has a one year low of $256.54 and a one year high of $312.95. The firm has a market cap of $52.32 billion, a P/E ratio of 33.05, a P/E/G ratio of 6.03 and a beta of 0.99. 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 declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s payout ratio is 133.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSA shares. Evercore set a $302.00 target price on Public Storage in a report on Tuesday, February 17th. Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Barclays upped their price objective on Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Finally, Morgan Stanley initiated 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. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage has an average rating of “Hold” and an average target price of $307.13.

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.