Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 307 Shares of Public Storage (NYSE:PSA)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its holdings in shares of Public Storage (NYSE:PSA – Get Rating) by 23.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,018 shares of the real estate investment trust’s stock after selling 307 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Public Storage were worth $298,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Maltin Wealth Management Inc. grew its stake in Public Storage by 0.8% in the 2nd quarter. Maltin Wealth Management Inc. now owns 3,849 shares of the real estate investment trust’s stock valued at $1,204,000 after buying an additional 32 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Public Storage by 13.9% during the 2nd quarter. Clearstead Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 33 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Public Storage by 3.3% in the 2nd quarter. Moors & Cabot Inc. now owns 1,073 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 34 shares during the period. Symphony Financial Ltd. Co. grew its holdings in Public Storage by 1.3% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 2,708 shares of the real estate investment trust’s stock valued at $778,000 after buying an additional 34 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of Public Storage by 0.6% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,104 shares of the real estate investment trust’s stock valued at $1,909,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Public Storage Trading Up 0.5 %

NYSE PSA opened at $289.10 on Friday. 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 stock’s 50-day simple moving average is $289.31 and its two-hundred day simple moving average is $305.93. Public Storage has a twelve month low of $270.13 and a twelve month high of $421.76. The company has a market capitalization of $50.78 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 2.25 and a beta of 0.39.

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PSA shares. StockNews.com assumed coverage on shares of Public Storage in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James lowered shares of Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Finally, Morgan Stanley decreased their price target on shares of Public Storage from $298.00 to $290.00 and set an “equal weight” rating on the stock in a report on Thursday, October 13th. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $368.91.

Insider Buying and Selling

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

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.