KLP Kapitalforvaltning AS Sells 7,300 Shares of Public Storage $PSA

KLP Kapitalforvaltning AS lessened its holdings in shares of Public Storage (NYSE:PSA) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,214 shares of the real estate investment trust’s stock after selling 7,300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Public Storage were worth $14,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Pacific Financial bought a new stake in Public Storage during the 3rd quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in Public Storage during the 3rd quarter valued at approximately $27,000. Raiffeisen Bank International AG bought a new stake in Public Storage during the 3rd quarter valued at approximately $30,000. Tradewinds Capital Management LLC bought a new stake in Public Storage during the 3rd quarter valued at approximately $33,000. Finally, Wealth Watch Advisors INC bought a new stake in Public Storage during the 3rd quarter valued at approximately $34,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PSA shares. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a research note on Thursday, February 5th. Barclays lifted their price objective on Public Storage from $347.00 to $352.00 and gave the stock an “overweight” rating in a research note on Monday. Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. William Blair set a $305.00 price objective on Public Storage in a research note on Monday, March 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Public Storage in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $308.50.

Public Storage Stock Performance

NYSE:PSA opened at $310.89 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. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51. The stock’s 50 day simple moving average is $293.46 and its two-hundred day simple moving average is $284.33. The company has a market cap of $54.56 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 4.05 and a beta of 1.02.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s payout ratio is currently 133.04%.

Public Storage Company 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.