Duality Advisers LP Sells 3,296 Shares of Public Storage (NYSE:PSA)

Duality Advisers LP reduced its stake in shares of Public Storage (NYSE:PSAGet Rating) by 50.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,208 shares of the real estate investment trust’s stock after selling 3,296 shares during the quarter. Duality Advisers LP’s holdings in Public Storage were worth $939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSA. Private Ocean LLC purchased a new position in shares of Public Storage during the 3rd quarter worth about $31,000. Ronald Blue Trust Inc. purchased a new position in shares of Public Storage during the second quarter valued at approximately $37,000. American National Bank grew its position in Public Storage by 75.0% in the 3rd quarter. American National Bank now owns 147 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 63 shares during the last quarter. Northern Oak Wealth Management Inc. increased its stake in Public Storage by 161.3% in the second quarter. Northern Oak Wealth Management Inc. now owns 162 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 100 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Public Storage by 116.5% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 120 shares during the last quarter. 77.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Joseph D. Russell, Jr. purchased 2,500 shares of the stock in a transaction dated Monday, December 12th. The shares were acquired at an average cost of $297.65 per share, for a total transaction of $744,125.00. Following the acquisition, the chief executive officer now owns 45,982 shares of the company’s stock, valued at $13,686,542.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $290.85 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $51.08 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 2.24 and a beta of 0.39. The firm has a 50 day moving average of $289.31 and a 200 day moving average of $305.62. Public Storage has a 52 week low of $270.13 and a 52 week 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 dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Tuesday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 32.52%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PSA shares. Raymond James lowered shares of Public Storage from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. StockNews.com assumed coverage on shares of Public Storage in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Morgan Stanley reduced 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $368.91.

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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