UBS Group AG Has $44.12 Million Holdings in Public Storage (NYSE:PSA)

UBS Group AG trimmed its position in Public Storage (NYSE:PSAGet Rating) by 4.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 141,102 shares of the real estate investment trust’s stock after selling 6,454 shares during the period. UBS Group AG owned 0.08% of Public Storage worth $44,119,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage during the second quarter valued at about $26,000. American National Bank boosted its position in Public Storage by 180.0% during the 2nd quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 54 shares during the period. Wellington Shields Capital Management LLC bought a new stake in Public Storage during the 1st quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. increased its position in Public Storage by 586.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 103 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 88 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Public Storage during the first quarter valued at $47,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $297.54 on Tuesday. Public Storage has a one year low of $270.73 and a one year high of $421.76. The company has a market cap of $52.26 billion, a PE ratio of 12.10, a P/E/G ratio of 2.45 and a beta of 0.40. The stock has a 50-day moving average of $295.03 and a 200-day moving average of $314.12. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.50 and a quick ratio of 1.50.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Wednesday, December 14th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.69%. Public Storage’s dividend payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

PSA has been the topic of several analyst reports. StockNews.com started coverage on shares of Public Storage in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James downgraded shares of Public Storage from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $365.00 to $380.00 in a research report on Tuesday, August 16th. Evercore ISI decreased their price objective on shares of Public Storage from $333.00 to $327.00 and set an “in-line” rating for the company in a research report on Monday, September 19th. UBS Group lowered their target price on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. Finally, Citigroup reaffirmed a “buy” rating and set a $367.00 price target on shares of Public Storage in a research report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $368.91.

Public Storage Profile

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Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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