Landscape Capital Management L.L.C. Invests $5.37 Million in Public Storage $PSA

Landscape Capital Management L.L.C. purchased a new position in shares of Public Storage (NYSE:PSA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,600 shares of the real estate investment trust’s stock, valued at approximately $5,373,000.

Other large investors have also bought and sold shares of the company. Patrick M Sweeney & Associates Inc. boosted its position in shares of Public Storage by 3.5% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 36 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 37 shares during the last quarter. Cape ANN Savings Bank grew its position in shares of Public Storage by 1.4% during the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock worth $807,000 after buying an additional 38 shares during the period. Covestor Ltd increased its stake in shares of Public Storage by 9.4% in the 3rd quarter. Covestor Ltd now owns 467 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 40 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of Public Storage by 2.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust’s stock valued at $504,000 after acquiring an additional 40 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PSA shares. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target on the stock. in a research report on Tuesday, January 20th. 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 report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Public Storage in a research note on Friday, February 20th. Finally, Raymond James Financial reduced their target price on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $307.13.

Public Storage Stock Up 0.4%

PSA traded up $1.23 during trading on Friday, reaching $298.97. The company had a trading volume of 71,384 shares, compared to its average volume of 1,174,989. The company has a market cap of $52.47 billion, a P/E ratio of 33.18, a PEG ratio of 6.08 and a beta of 0.99. Public Storage has a 12 month low of $256.54 and a 12 month high of $312.95. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. The business’s fifty day moving average price is $290.35 and its 200 day moving average price is $284.80.

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

Public Storage 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.