J.W. Cole Advisors Inc. Has $621,000 Stock Position in Public Storage (NYSE:PSA)

J.W. Cole Advisors Inc. lifted its stake in shares of Public Storage (NYSE:PSAGet Rating) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,592 shares of the real estate investment trust’s stock after purchasing an additional 168 shares during the period. J.W. Cole Advisors Inc.’s holdings in Public Storage were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Norges Bank bought a new stake in shares of Public Storage during the 4th quarter worth approximately $735,608,000. State Street Corp raised its stake in shares of Public Storage by 10.3% during the 1st quarter. State Street Corp now owns 11,667,458 shares of the real estate investment trust’s stock worth $4,553,576,000 after purchasing an additional 1,085,578 shares in the last quarter. BlackRock Inc. raised its stake in shares of Public Storage by 2.7% during the 4th quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock worth $6,463,290,000 after purchasing an additional 456,793 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Public Storage by 15.0% in the 1st quarter. JPMorgan Chase & Co. now owns 2,781,663 shares of the real estate investment trust’s stock valued at $1,085,625,000 after acquiring an additional 362,327 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Public Storage by 54.9% in the 1st quarter. Russell Investments Group Ltd. now owns 939,881 shares of the real estate investment trust’s stock valued at $367,331,000 after acquiring an additional 333,170 shares during the period. Institutional investors own 78.19% of the company’s stock.

Insider Activity at Public Storage

In related news, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 175,449 shares of the company’s stock, valued at $61,959,814.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Tamara Hughes Gustavson sold 203 shares of Public Storage stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $348.29, for a total transaction of $70,702.87. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at $1,915,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Reyes sold 51,637 shares of Public Storage stock in a transaction dated 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 sale, the director now directly owns 175,449 shares in the company, valued at $61,959,814.35. The disclosure for this sale can be found here. Insiders have sold 52,670 shares of company stock valued at $18,599,374 over the last ninety days. 11.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research note on Monday, July 25th. Evercore ISI set a $348.00 price target on Public Storage in a research note on Monday, June 20th. Truist Financial dropped their price target on Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, June 1st. Morgan Stanley dropped their price target on Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 25th. Finally, Jefferies Financial Group dropped their price target on Public Storage from $465.00 to $369.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $367.33.

Public Storage Stock Performance

NYSE:PSA opened at $313.15 on Monday. The stock’s 50-day simple moving average is $332.11 and its 200 day simple moving average is $344.07. The firm has a market capitalization of $54.95 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.33. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.29. Public Storage has a twelve month low of $292.32 and a twelve month high of $421.76.

Public Storage Dividend Announcement

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

About Public Storage

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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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