Public Storage (NYSE:PSA) Shares Purchased by Precision Wealth Strategies LLC

Precision Wealth Strategies LLC boosted its holdings in Public Storage (NYSE:PSAGet Rating) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 877 shares of the real estate investment trust’s stock after purchasing an additional 97 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Public Storage were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSA. Vanguard Group Inc. lifted its holdings in Public Storage by 1.4% in the first quarter. Vanguard Group Inc. now owns 20,359,277 shares of the real estate investment trust’s stock worth $7,945,819,000 after purchasing an additional 275,264 shares during the period. BlackRock Inc. raised its position in Public Storage by 2.7% in the fourth quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock worth $6,463,290,000 after acquiring an additional 456,793 shares in the last quarter. State Street Corp raised its position in Public Storage by 10.3% in the first quarter. State Street Corp now owns 11,667,458 shares of the real estate investment trust’s stock worth $4,553,576,000 after acquiring an additional 1,085,578 shares in the last quarter. Wellington Management Group LLP raised its holdings in Public Storage by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 4,041,870 shares of the real estate investment trust’s stock worth $1,577,461,000 after buying an additional 74,406 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Public Storage by 15.0% during the 1st quarter. JPMorgan Chase & Co. now owns 2,781,663 shares of the real estate investment trust’s stock worth $1,085,625,000 after buying an additional 362,327 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Public Storage Price Performance

Shares of PSA stock opened at $298.91 on Friday. The stock’s fifty day moving average is $331.82 and its 200-day moving average is $342.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market capitalization of $52.45 billion, a PE ratio of 25.46, a PEG ratio of 2.75 and a beta of 0.33. Public Storage has a 52 week low of $292.32 and a 52 week high of $421.76.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, September 13th. Public Storage’s payout ratio is presently 68.14%.

Insider Transactions at Public Storage

In other news, Director John Reyes sold 51,637 shares of the stock in a transaction 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 owns 175,449 shares in the company, valued at $61,959,814.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Public Storage news, Director Tamara Hughes Gustavson sold 830 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $353.09, for a total transaction of $293,064.70. Following the transaction, the director now owns 1,430 shares in the company, valued at $504,918.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total value of $18,235,606.55. Following the transaction, the director now owns 175,449 shares in the company, valued at approximately $61,959,814.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,670 shares of company stock worth $18,599,374. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PSA shares. Evercore ISI cut their price objective on Public Storage from $333.00 to $327.00 and set an “in-line” rating on the stock in a report on Monday. Stifel Nicolaus lowered their price target on Public Storage from $410.00 to $360.00 in a research note on Tuesday, June 21st. UBS Group lowered their price target on Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. Truist Financial decreased their target price on Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Finally, Raymond James cut Public Storage from a “strong-buy” rating to an “outperform” rating and upped their target price for the stock from $365.00 to $380.00 in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.58.

About Public Storage

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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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