PensionDanmark Pensionsforsikringsaktieselskab Acquires 3,588 Shares of Public Storage $PSA

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Public Storage (NYSE:PSA) by 15.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 26,610 shares of the real estate investment trust’s stock after acquiring an additional 3,588 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Public Storage were worth $8,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Bayban acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd acquired a new stake in Public Storage during the third quarter worth approximately $27,000. Wealth Watch Advisors INC bought a new position in Public Storage during the 3rd quarter worth $34,000. Raiffeisen Bank International AG raised its holdings in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 37 shares in the last quarter. Finally, Knuff & Co LLC acquired a new position in Public Storage in the 4th quarter valued at $38,000. 78.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Trading Up 0.4%

PSA opened at $328.20 on Friday. The company has a market cap of $57.62 billion, a P/E ratio of 31.32, a PEG ratio of 3.87 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The company’s 50 day moving average is $319.85 and its 200-day moving average is $303.23. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSA. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. BMO Capital Markets increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Scotiabank lifted their price objective on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Jefferies Financial Group raised their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Citigroup lifted their price target on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $326.05.

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.