Teacher Retirement System of Texas Boosts Stake in Public Storage $PSA

Teacher Retirement System of Texas boosted its stake in shares of Public Storage (NYSE:PSA) by 119.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 138,320 shares of the real estate investment trust’s stock after acquiring an additional 75,347 shares during the period. Teacher Retirement System of Texas’ holdings in Public Storage were worth $35,894,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. First Pacific Financial purchased a new stake in Public Storage during the third quarter worth $26,000. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage during the third quarter worth $27,000. Raiffeisen Bank International AG acquired a new position in shares of Public Storage during the third quarter worth $30,000. Tradewinds Capital Management LLC acquired a new position in shares of Public Storage during the third quarter worth $33,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Public Storage during the third quarter worth $34,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSA. Jefferies Financial Group reduced their price target on Public Storage from $345.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Evercore reduced their price target on Public Storage from $311.00 to $309.00 in a research report on Monday, April 13th. Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price target on shares of Public Storage in a research report on Friday, February 20th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $308.50.

Public Storage Stock Performance

PSA opened at $310.89 on Friday. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $54.56 billion, a PE ratio of 34.47, a P/E/G ratio of 4.05 and a beta of 1.02. The firm has a 50 day moving average of $293.46 and a two-hundred day moving average of $284.33.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.9%. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

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.