Cetera Investment Advisers Buys 15,134 Shares of Public Storage $PSA

Cetera Investment Advisers grew its stake in Public Storage (NYSE:PSA) by 21.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,334 shares of the real estate investment trust’s stock after purchasing an additional 15,134 shares during the period. Cetera Investment Advisers’ holdings in Public Storage were worth $23,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC boosted its position in Public Storage by 2,925.3% in the first quarter. Prestige Wealth Management Group LLC now owns 2,269 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 2,194 shares in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Public Storage by 1.0% during the first quarter. Lasalle Investment Management Securities LLC now owns 484,663 shares of the real estate investment trust’s stock worth $131,286,000 after buying an additional 4,670 shares in the last quarter. ABN Amro Investment Solutions lifted its stake in shares of Public Storage by 10.7% in the 1st quarter. ABN Amro Investment Solutions now owns 8,623 shares of the real estate investment trust’s stock valued at $2,336,000 after acquiring an additional 836 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Public Storage in the 1st quarter valued at $76,000. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Public Storage by 12.9% during the 1st quarter. Johnson Financial Group Inc. now owns 7,639 shares of the real estate investment trust’s stock valued at $2,069,000 after acquiring an additional 873 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PSA shares. JPMorgan Chase & Co. boosted their price objective on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. BNP Paribas Exane increased their target price on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their price target on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Truist Financial boosted their price target on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $325.37.

Public Storage Stock Performance

Shares of Public Storage stock opened at $323.05 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The stock has a market cap of $56.71 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 4.34 and a beta of 0.96. The company’s fifty day moving average is $315.35 and its 200 day moving average is $300.14.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $4.12 earnings per share. Sell-side analysts forecast that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s dividend payout ratio is presently 123.84%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

About Public Storage

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.