Allworth Financial LP Has $1.64 Million Holdings in Public Storage (NYSE:PSA)

Allworth Financial LP lifted its holdings in Public Storage (NYSE:PSAGet Rating) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 5,234 shares of the real estate investment trust’s stock after buying an additional 46 shares during the quarter. Allworth Financial LP’s holdings in Public Storage were worth $1,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mystic Asset Management Inc. acquired a new stake in shares of Public Storage in the 4th quarter valued at $26,000. Investors Research Corp lifted its stake in shares of Public Storage by 102.5% in the 1st quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage in the 2nd quarter valued at $26,000. American National Bank lifted its position in Public Storage by 180.0% during the 2nd quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 54 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in Public Storage by 119.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PSA shares. UBS Group cut their target price on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research report on Monday, July 25th. StockNews.com raised shares of Public Storage from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Citigroup reissued a “buy” rating and set a $367.00 target price on shares of Public Storage in a research report on Thursday, July 28th. Stifel Nicolaus cut their target price on shares of Public Storage from $410.00 to $360.00 in a research report on Tuesday, June 21st. Finally, Raymond James lowered shares of Public Storage from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $365.00 to $380.00 in a research report on Tuesday, August 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $365.58.

Public Storage Stock Performance

NYSE:PSA opened at $298.91 on Friday. The company has a market cap of $52.45 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 2.75 and a beta of 0.33. The firm’s 50-day moving average is $331.82 and its 200-day moving average is $342.33. 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.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, September 14th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.68%. The ex-dividend date is Tuesday, September 13th. Public Storage’s dividend payout ratio (DPR) is presently 68.14%.

Insider Buying and Selling

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

Public Storage Company 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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