Public Storage (NYSE:PSA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Public Storage (NYSE:PSAGet Rating) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,071 shares of the real estate investment trust’s stock after selling 481 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Public Storage were worth $4,321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mystic Asset Management Inc. acquired a new position in shares of Public Storage during the 4th quarter worth approximately $26,000. Investors Research Corp boosted its holdings in shares of Public Storage by 102.5% during the 1st quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in shares of Public Storage by 119.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Public Storage during the 4th quarter valued at approximately $38,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in shares of Public Storage during the 1st quarter valued at approximately $38,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 0.2 %

Shares of NYSE PSA opened at $313.15 on Monday. The firm has a market cap of $54.95 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.86 and a beta of 0.33. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.29. Public Storage has a 52-week low of $292.32 and a 52-week high of $421.76. The business’s 50 day moving average is $332.11 and its two-hundred day moving average is $344.07.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.55%. Public Storage’s dividend payout ratio (DPR) is 68.14%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSA. Morgan Stanley reduced their price target on shares of Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 25th. Citigroup reaffirmed a “buy” rating and set a $367.00 price target on shares of Public Storage in a research report on Thursday, July 28th. Evercore ISI set a $348.00 price target on shares of Public Storage in a research report on Monday, June 20th. UBS Group reduced their price target on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research report on Monday, July 25th. Finally, Jefferies Financial Group reduced their price target on shares of Public Storage from $465.00 to $369.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $367.33.

Insiders Place Their Bets

In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $348.29, for a total value of $70,702.87. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $1,915,595. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Public Storage news, Director John Reyes sold 51,637 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $353.15, for a total value of $18,235,606.55. Following the completion of the transaction, the director now owns 175,449 shares in the company, valued at $61,959,814.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tamara Hughes Gustavson sold 203 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $348.29, for a total transaction of $70,702.87. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,915,595. The disclosure for this sale can be found here. Insiders sold a total of 52,670 shares of company stock worth $18,599,374 over the last 90 days. Corporate insiders own 11.00% of the company’s stock.

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

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

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