Kestra Private Wealth Services LLC Purchases 2,539 Shares of Public Storage $PSA

Kestra Private Wealth Services LLC lifted its position in Public Storage (NYSE:PSA) by 33.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,065 shares of the real estate investment trust’s stock after buying an additional 2,539 shares during the period. Kestra Private Wealth Services LLC’s holdings in Public Storage were worth $3,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bayban purchased a new stake in Public Storage during the fourth quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter valued at about $27,000. Wealth Watch Advisors INC purchased a new position in Public Storage in the third quarter worth about $34,000. Raiffeisen Bank International AG boosted its position in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares during the last quarter. Finally, Knuff & Co LLC bought a new stake in shares of Public Storage during the 4th quarter valued at about $38,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.6%

NYSE PSA opened at $328.82 on Friday. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $57.75 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 3.81 and a beta of 0.96. The stock’s 50-day moving average price is $321.83 and its 200-day moving average price is $304.42.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. Barclays reaffirmed an “equal weight” rating and set a $349.00 price target on shares of Public Storage in a research report on Friday, July 10th. Scotiabank boosted their target price on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. BNP Paribas Exane boosted their price objective on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and an average target price of $326.05.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.