Davis Selected Advisers Buys 4,210 Shares of Public Storage $PSA

Davis Selected Advisers grew its stake in Public Storage (NYSE:PSA) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,610 shares of the real estate investment trust’s stock after buying an additional 4,210 shares during the quarter. Davis Selected Advisers’ holdings in Public Storage were worth $12,886,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. First Pacific Financial acquired a new stake in shares of Public Storage during the third quarter worth $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage in the 3rd quarter worth $27,000. Asset Dedication LLC increased its holdings in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Public Storage during the 3rd quarter worth about $30,000. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at about $33,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $277.36 on Thursday. 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 has a 50-day moving average of $292.27 and a 200-day moving average of $284.65. The stock has a market capitalization of $48.68 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 5.78 and a beta of 0.99. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $312.95.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PSA shares. Barclays boosted their price target on Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a research report on Monday. Evercore set a $302.00 target price on Public Storage in a research note on Tuesday, February 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $301.00 price target (down from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Finally, William Blair set a $305.00 price objective on shares of Public Storage in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and a consensus price target of $307.00.

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.