Avidian Wealth Solutions LLC Has $275,000 Stake in Public Storage (NYSE:PSA)

Avidian Wealth Solutions LLC grew its stake in Public Storage (NYSE:PSAGet Rating) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 939 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the period. Avidian Wealth Solutions LLC’s holdings in Public Storage were worth $275,000 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. Goldman Sachs Group Inc. boosted its position in Public Storage by 73.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,249,692 shares of the real estate investment trust’s stock worth $390,742,000 after buying an additional 527,777 shares during the period. FMR LLC lifted its holdings in shares of Public Storage by 44.3% during the second quarter. FMR LLC now owns 1,412,624 shares of the real estate investment trust’s stock worth $441,685,000 after purchasing an additional 433,737 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of Public Storage in the third quarter worth $118,942,000. Aew Capital Management L P increased its holdings in Public Storage by 181.2% in the second quarter. Aew Capital Management L P now owns 334,475 shares of the real estate investment trust’s stock valued at $104,580,000 after purchasing an additional 215,550 shares during the period. Finally, PGGM Investments bought a new position in Public Storage during the 3rd quarter worth $51,570,000. 77.88% of the stock is owned by institutional investors.

Public Storage Price Performance

Shares of NYSE PSA opened at $289.10 on Friday. The firm has a market capitalization of $50.78 billion, a P/E ratio of 11.75, a P/E/G ratio of 2.24 and a beta of 0.39. The firm’s 50-day moving average price is $289.31 and its 200-day moving average price is $305.87. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.17. Public Storage has a 1-year low of $270.13 and a 1-year high of $421.76.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Wednesday, December 14th were issued a dividend of $2.00 per share. The ex-dividend date was Tuesday, December 13th. This represents a $8.00 annualized dividend and a yield of 2.77%. Public Storage’s payout ratio is 32.52%.

Insider Buying and Selling at Public Storage

In other Public Storage news, CEO Joseph D. Russell, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was bought at an average cost of $297.65 per share, with a total value of $744,125.00. Following the completion of the transaction, the chief executive officer now directly owns 45,982 shares in the company, valued at approximately $13,686,542.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the subject of several recent research reports. StockNews.com assumed coverage on Public Storage in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on shares of Public Storage from $298.00 to $290.00 and set an “equal weight” rating for the company in a report on Thursday, October 13th. Finally, Raymond James lowered shares of Public Storage from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Public Storage presently has a consensus rating of “Hold” and an average target price of $368.91.

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.

See Also

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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