LDR Capital Management LLC Makes New $1.12 Million Investment in Public Storage $PSA

LDR Capital Management LLC purchased a new position in shares of Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,306 shares of the real estate investment trust’s stock, valued at approximately $1,117,000. Public Storage accounts for approximately 1.5% of LDR Capital Management LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Empowered Funds LLC lifted its stake in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Public Storage during the second quarter worth approximately $929,000. Marshall Wace LLP increased its holdings in shares of Public Storage by 180.2% during the second quarter. Marshall Wace LLP now owns 44,048 shares of the real estate investment trust’s stock worth $12,925,000 after buying an additional 28,329 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Public Storage by 5.5% during the second quarter. Bank of Nova Scotia now owns 18,253 shares of the real estate investment trust’s stock worth $5,356,000 after buying an additional 958 shares in the last quarter. Finally, Ossiam increased its holdings in shares of Public Storage by 3.4% during the second quarter. Ossiam now owns 4,066 shares of the real estate investment trust’s stock worth $1,193,000 after buying an additional 132 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA stock opened at $293.59 on Friday. 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 company has a 50 day moving average price of $289.76 and a 200 day moving average price of $283.08. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $312.95. The stock has a market capitalization of $51.53 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 5.95 and a beta of 1.02.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, March 16th. Public Storage’s payout ratio is 133.04%.

Analyst Ratings Changes

Several research firms have recently weighed in on PSA. BNP Paribas Exane dropped their price objective on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Barclays raised their price objective on shares of Public Storage from $331.00 to $347.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. JPMorgan Chase & Co. dropped their price objective on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a report on Thursday, February 5th. Finally, UBS Group dropped their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $306.53.

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.