Public Storage (NYSE:PSA) Holdings Decreased by Capital Investment Advisors LLC

Capital Investment Advisors LLC reduced its stake in shares of Public Storage (NYSE:PSAGet Rating) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,063 shares of the real estate investment trust’s stock after selling 72 shares during the quarter. Capital Investment Advisors LLC’s holdings in Public Storage were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Signaturefd LLC raised its stake in shares of Public Storage by 1.7% during the first quarter. Signaturefd LLC now owns 1,719 shares of the real estate investment trust’s stock valued at $671,000 after purchasing an additional 28 shares in the last quarter. Glassman Wealth Services raised its position in Public Storage by 16.4% in the fourth quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 29 shares in the last quarter. Jacobi Capital Management LLC raised its position in Public Storage by 2.2% in the first quarter. Jacobi Capital Management LLC now owns 1,423 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 31 shares in the last quarter. Trust Co. of Vermont raised its position in Public Storage by 3.4% in the first quarter. Trust Co. of Vermont now owns 983 shares of the real estate investment trust’s stock worth $384,000 after acquiring an additional 32 shares in the last quarter. Finally, Old Port Advisors raised its position in Public Storage by 0.9% in the first quarter. Old Port Advisors now owns 3,919 shares of the real estate investment trust’s stock worth $1,554,000 after acquiring an additional 36 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the topic of several research reports. Morgan Stanley dropped their price target on shares of Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 25th. Evercore ISI set a $348.00 price objective on Public Storage in a report on Monday, June 20th. Truist Financial cut their price objective on Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, June 1st. Raymond James downgraded Public Storage from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $365.00 to $380.00 in a report on Tuesday, August 16th. Finally, Stifel Nicolaus cut their price objective on Public Storage from $410.00 to $360.00 in a report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $367.33.

Public Storage Trading Down 0.2 %

NYSE:PSA opened at $313.15 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.14 and a quick ratio of 2.14. Public Storage has a fifty-two week low of $292.32 and a fifty-two week high of $421.76. The stock’s 50-day moving average is $332.11 and its two-hundred day moving average is $344.22. The stock has a market cap of $54.95 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.33.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 13th. This represents a $8.00 annualized dividend and a yield of 2.55%. Public Storage’s dividend payout ratio (DPR) is presently 68.14%.

Insider Activity at Public Storage

In related news, Director John Reyes sold 51,637 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total value of $18,235,606.55. Following the completion of the sale, the director now owns 175,449 shares of the company’s stock, valued at approximately $61,959,814.35. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Tamara Hughes Gustavson sold 830 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $353.09, for a total value of $293,064.70. Following the completion of the sale, the director now owns 1,430 shares of the company’s stock, valued at approximately $504,918.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Reyes sold 51,637 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $353.15, for a total value of $18,235,606.55. Following the completion of the sale, the director now directly owns 175,449 shares of the company’s stock, valued at approximately $61,959,814.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,670 shares of company stock valued at $18,599,374. 11.00% of the stock is owned by corporate insiders.

Public Storage Profile

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Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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