Assetmark Inc. Has $871,000 Stock Position in Public Storage (NYSE:PSA)

Assetmark Inc. lowered its stake in Public Storage (NYSE:PSAGet Rating) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,974 shares of the real estate investment trust’s stock after selling 194 shares during the period. Assetmark Inc.’s holdings in Public Storage were worth $871,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. AMI Investment Management Inc. acquired a new position in Public Storage in the 1st quarter valued at about $267,000. Blair William & Co. IL grew its position in shares of Public Storage by 7.3% during the 1st quarter. Blair William & Co. IL now owns 2,668 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 182 shares in the last quarter. Prudential PLC acquired a new position in shares of Public Storage during the 1st quarter worth approximately $1,374,000. Sequoia Financial Advisors LLC acquired a new position in shares of Public Storage during the 1st quarter worth approximately $398,000. Finally, Candriam Luxembourg S.C.A. grew its position in shares of Public Storage by 19.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 13,506 shares of the real estate investment trust’s stock worth $5,271,000 after purchasing an additional 2,156 shares in the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PSA shares. Morgan Stanley decreased their target price on shares of Public Storage from $298.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 13th. StockNews.com started coverage on shares of Public Storage in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Raymond James lowered shares of Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $368.91.

Insider Activity at Public Storage

In related news, CEO Joseph D. Russell, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The stock was acquired at an average price of $297.65 per share, with a total value of $744,125.00. Following the purchase, the chief executive officer now directly owns 45,982 shares in the company, valued at $13,686,542.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is owned by insiders.

Public Storage Price Performance

Shares of NYSE:PSA opened at $285.78 on Thursday. The company has a market cap of $50.19 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.25 and a beta of 0.39. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $289.73 and a 200 day simple moving average of $306.26. Public Storage has a one year low of $270.13 and a one year high of $421.76.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Wednesday, December 14th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.80%. The ex-dividend date was Tuesday, December 13th. Public Storage’s payout ratio is 32.52%.

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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