Stonnington Group LLC Purchases 365 Shares of Public Storage (NYSE:PSA)

Stonnington Group LLC lifted its position in shares of Public Storage (NYSE:PSAGet Rating) by 27.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,700 shares of the real estate investment trust’s stock after purchasing an additional 365 shares during the quarter. Stonnington Group LLC’s holdings in Public Storage were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mystic Asset Management Inc. bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $26,000. Investors Research Corp boosted its holdings in Public Storage by 102.5% in the first quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 41 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new stake in Public Storage in the second quarter worth $26,000. Stonebridge Capital Advisors LLC boosted its holdings in Public Storage by 119.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 50 shares in the last quarter. Finally, Wellington Shields Capital Management LLC bought a new stake in Public Storage in the first quarter worth $38,000. 78.19% of the stock is currently owned by institutional investors.

Public Storage Stock Down 0.2 %

PSA stock opened at $313.15 on Friday. The stock has a market capitalization of $54.95 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.86 and a beta of 0.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.14 and a quick ratio of 2.14. Public Storage has a 1-year low of $292.32 and a 1-year high of $421.76. The business has a fifty day moving average price of $332.11 and a 200-day moving average price of $344.22.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, September 14th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Tuesday, September 13th. Public Storage’s dividend payout ratio (DPR) is presently 68.14%.

Analysts Set New Price Targets

PSA has been the topic of several analyst reports. Truist Financial dropped their target price on Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, June 1st. Citigroup reissued a “buy” rating and issued a $367.00 target price on shares of Public Storage in a report on Thursday, July 28th. StockNews.com raised Public Storage from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Evercore ISI set a $348.00 target price on Public Storage in a report on Monday, June 20th. Finally, Morgan Stanley decreased their price target on Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 25th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $367.33.

Insider Activity at Public Storage

In related news, Director John Reyes sold 51,637 shares of the company’s 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 completion of the sale, the director now owns 175,449 shares in the company, valued at $61,959,814.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Tamara Hughes Gustavson sold 830 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $353.09, for a total transaction of $293,064.70. Following the completion of the sale, the director now owns 1,430 shares in the company, valued at $504,918.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Reyes sold 51,637 shares of the company’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 completion of the sale, the director now owns 175,449 shares of the company’s stock, valued at approximately $61,959,814.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,670 shares of company stock worth $18,599,374. 11.00% of the stock is owned by insiders.

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.

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

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