Landscape Capital Management L.L.C. Invests $5.37 Million in Public Storage $PSA

Landscape Capital Management L.L.C. acquired a new stake in Public Storage (NYSE:PSA) during the third quarter, Holdings Channel reports. The institutional investor acquired 18,600 shares of the real estate investment trust’s stock, valued at approximately $5,373,000.

Other large investors have also added to or reduced their stakes in the company. First Pacific Financial bought a new position in Public Storage in the third quarter valued at $26,000. Asset Dedication LLC lifted its position in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Public Storage during the 3rd quarter worth about $30,000. Tradewinds Capital Management LLC acquired a new position in shares of Public Storage during the 3rd quarter worth about $33,000. Finally, Quent Capital LLC bought a new position in shares of Public Storage in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA traded up $1.23 during trading on Friday, reaching $298.97. 71,384 shares of the company’s stock were exchanged, compared to its average volume of 1,174,989. The business has a 50 day moving average price of $290.35 and a 200-day moving average price of $284.80. The stock has a market capitalization of $52.47 billion, a P/E ratio of 33.18, a PEG ratio of 6.08 and a beta of 0.99. 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 fifty-two week low of $256.54 and a fifty-two week high of $312.95.

Public Storage Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is currently 133.04%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PSA shares. BMO Capital Markets lowered their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research report on Monday, December 22nd. Barclays raised their price target on Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a research report on Thursday, February 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $301.00 price objective (down from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Finally, Scotiabank raised their target price on shares of Public Storage from $300.00 to $319.00 and gave the company a “sector outperform” rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Public Storage has an average rating of “Hold” and a consensus target price of $307.13.

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.