Davis Selected Advisers Has $12.89 Million Position in Public Storage $PSA

Davis Selected Advisers raised its holdings in Public Storage (NYSE:PSA) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,610 shares of the real estate investment trust’s stock after acquiring an additional 4,210 shares during the quarter. Davis Selected Advisers’ holdings in Public Storage were worth $12,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. First Pacific Financial bought a new stake in shares of Public Storage during the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the 3rd quarter worth $27,000. Asset Dedication LLC boosted its position in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Public Storage during the third quarter worth $30,000. Finally, Tradewinds Capital Management LLC acquired a new stake in shares of Public Storage during the third quarter worth $33,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of Public Storage stock opened at $277.36 on Thursday. The stock’s fifty day simple moving average is $292.27 and its 200 day simple moving average is $284.65. 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 company has a market capitalization of $48.68 billion, a PE ratio of 30.75, a PEG ratio of 5.78 and a beta of 0.99. Public Storage has a 12 month low of $256.54 and a 12 month high of $312.95.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PSA shares. Truist Financial increased their target price on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Scotiabank upped their price target on Public Storage from $300.00 to $319.00 and gave the company a “sector outperform” rating in a research note on Monday, March 2nd. Wells Fargo & Company downgraded shares of Public Storage from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, Morgan Stanley assumed coverage on shares of Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $307.00.

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.