Moody National Bank Trust Division Makes New $452,000 Investment in Public Storage (NYSE:PSA)

Moody National Bank Trust Division bought a new position in Public Storage (NYSE:PSAGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,446 shares of the real estate investment trust’s stock, valued at approximately $452,000.

A number of other large investors have also recently bought and sold shares of PSA. MAI Capital Management bought a new position in Public Storage in the fourth quarter worth about $277,000. O Shaughnessy Asset Management LLC lifted its holdings in Public Storage by 79.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,757 shares of the real estate investment trust’s stock worth $1,782,000 after acquiring an additional 2,099 shares during the last quarter. Level Four Advisory Services LLC bought a new position in Public Storage in the fourth quarter worth about $294,000. Hoylecohen LLC lifted its holdings in Public Storage by 14.0% in the fourth quarter. Hoylecohen LLC now owns 1,841 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 226 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $164,000. Institutional investors own 78.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PSA. UBS Group dropped their price target on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research note on Monday, July 25th. Stifel Nicolaus dropped their price target on shares of Public Storage from $410.00 to $360.00 in a research note on Tuesday, June 21st. Raymond James lowered shares of Public Storage from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $365.00 to $380.00 in a research note on Tuesday, August 16th. Evercore ISI set a $348.00 price target on shares of Public Storage in a research note on Monday, June 20th. Finally, Truist Financial dropped their price target on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research note on Wednesday, June 1st. 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $367.33.

Public Storage Trading Down 0.2 %

Public Storage stock opened at $313.15 on Monday. The company has a 50 day moving average price of $332.11 and a 200 day moving average price of $344.07. Public Storage has a 52 week low of $292.32 and a 52 week high of $421.76. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 2.86 and a beta of 0.33.

Public Storage Dividend Announcement

The business 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. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Tuesday, September 13th. Public Storage’s dividend payout ratio (DPR) is currently 68.14%.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director John Reyes sold 51,637 shares of Public Storage stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $353.15, for a total transaction 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 Securities & Exchange Commission, which is available at this link. In other news, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $353.15, for a total transaction of $18,235,606.55. Following the transaction, the director now owns 175,449 shares in the company, valued at approximately $61,959,814.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tamara Hughes Gustavson sold 203 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $348.29, for a total transaction of $70,702.87. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,915,595. The disclosure for this sale can be found here. Insiders sold 52,670 shares of company stock valued at $18,599,374 in the last quarter. Company insiders own 11.00% of the company’s stock.

Public Storage Company Profile

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAGet Rating).

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

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.