Massachusetts Financial Services Co. MA Sells 30,006 Shares of Public Storage $PSA

Massachusetts Financial Services Co. MA cut its position in shares of Public Storage (NYSE:PSA) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 825,799 shares of the real estate investment trust’s stock after selling 30,006 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Public Storage were worth $214,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Pacific Financial bought a new position in Public Storage during the third quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the third quarter valued at approximately $27,000. Asset Dedication LLC boosted its stake in Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 50 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Public Storage during the third quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC bought a new position in Public Storage during the third quarter valued at approximately $33,000. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

NYSE:PSA opened at $293.53 on Monday. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 6.05 and a beta of 1.02. Public Storage has a 1 year low of $256.54 and a 1 year high of $312.95. The business has a 50 day simple moving average of $290.11 and a 200-day simple moving average of $283.20. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSA shares. Truist Financial increased their price target on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft lowered Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a research note on Tuesday, January 20th. Barclays raised 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. Scotiabank raised their price objective on Public Storage from $319.00 to $321.00 and gave the company a “sector outperform” rating in a research note on Monday, March 23rd. Finally, Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $306.53.

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.