Skandinaviska Enskilda Banken AB publ Sells 48,726 Shares of Public Storage $PSA

Skandinaviska Enskilda Banken AB publ cut its position in shares of Public Storage (NYSE:PSA) by 46.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,494 shares of the real estate investment trust’s stock after selling 48,726 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Public Storage were worth $16,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. First Pacific Financial purchased a new stake in Public Storage in the third quarter worth about $26,000. Asset Dedication LLC raised its holdings 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 valued at $28,000 after purchasing an additional 50 shares in the last quarter. NewSquare Capital LLC raised its holdings in shares of Public Storage by 60.6% in the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Public Storage in the 3rd quarter worth approximately $33,000. Finally, Quent Capital LLC bought a new position in shares of Public Storage during the third quarter valued at approximately $37,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of NYSE PSA opened at $301.99 on Wednesday. Public Storage has a one year low of $256.54 and a one year high of $322.49. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a fifty day moving average of $276.64 and a 200 day moving average of $282.31. The firm has a market cap of $52.99 billion, a PE ratio of 33.48, a PEG ratio of 10.24 and a beta of 1.01.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued 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 4.0%. Public Storage’s dividend payout ratio is presently 133.04%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PSA shares. Barclays set a $331.00 price target on Public Storage in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft downgraded Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price on the stock. in a research report on Tuesday, January 20th. Truist Financial raised their price target on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group lowered their target price on Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $306.44.

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.