Public Storage (NYSE:PSA) Shares Purchased by AdvisorNet Financial Inc

AdvisorNet Financial Inc boosted its holdings in Public Storage (NYSE:PSAGet Rating) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,168 shares of the real estate investment trust’s stock after purchasing an additional 43 shares during the quarter. AdvisorNet Financial Inc’s holdings in Public Storage were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. MAI Capital Management acquired a new stake in Public Storage during the fourth quarter worth about $277,000. O Shaughnessy Asset Management LLC increased its stake in Public Storage by 79.0% during 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 acquired a new stake in Public Storage during the fourth quarter worth about $294,000. Invesco Ltd. increased its stake in Public Storage by 1.7% during the fourth quarter. Invesco Ltd. now owns 832,216 shares of the real estate investment trust’s stock worth $311,715,000 after acquiring an additional 14,067 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Public Storage by 256.6% during the fourth quarter. Schroder Investment Management Group now owns 233,275 shares of the real estate investment trust’s stock worth $87,375,000 after acquiring an additional 167,854 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Down 0.2 %

Shares of PSA opened at $312.50 on Tuesday. The company has a market capitalization of $54.83 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.86 and a beta of 0.33. Public Storage has a one year low of $292.32 and a one year 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 stock has a 50-day moving average price of $332.11 and a 200 day moving average price of $343.87.

Public Storage Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, September 13th. Public Storage’s payout ratio is currently 68.14%.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Citigroup restated a “buy” rating and set a $367.00 price target on shares of Public Storage in a research note on Thursday, July 28th. Truist Financial decreased their target price on Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Jefferies Financial Group decreased their target price on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Stifel Nicolaus decreased their target price on Public Storage from $410.00 to $360.00 in a research report on Tuesday, June 21st. Finally, UBS Group decreased their target price on Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research report on Monday, July 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $365.58.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of the company’s stock in a transaction that occurred on 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 owns 5,500 shares in the company, valued at $1,915,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of the company’s stock in a transaction that occurred on 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 owns 5,500 shares in the company, valued at $1,915,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Reyes sold 51,637 shares of the company’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 sale, the director now owns 175,449 shares in the company, valued at approximately $61,959,814.35. The disclosure for this sale can be found here. Insiders have sold 52,670 shares of company stock worth $18,599,374 over the last quarter. 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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