Vestmark Advisory Solutions Inc. Increases Stake in Public Storage (NYSE:PSA)

Vestmark Advisory Solutions Inc. increased its holdings in shares of Public Storage (NYSE:PSAGet Rating) by 69.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,961 shares of the real estate investment trust’s stock after buying an additional 801 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Public Storage were worth $574,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Public Storage by 73.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,249,692 shares of the real estate investment trust’s stock valued at $390,742,000 after purchasing an additional 527,777 shares during the last quarter. FMR LLC increased its position in shares of Public Storage by 44.3% in the 2nd quarter. FMR LLC now owns 1,412,624 shares of the real estate investment trust’s stock valued at $441,685,000 after purchasing an additional 433,737 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $118,942,000. Aew Capital Management L P increased its position in shares of Public Storage by 181.2% in the 2nd quarter. Aew Capital Management L P now owns 334,475 shares of the real estate investment trust’s stock valued at $104,580,000 after purchasing an additional 215,550 shares during the last quarter. Finally, PGGM Investments purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $51,570,000. 77.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Storage

In other news, CEO Joseph D. Russell, Jr. bought 2,500 shares of Public Storage stock in a transaction dated Monday, December 12th. The stock was bought at an average price of $297.65 per share, for a total transaction of $744,125.00. Following the purchase, the chief executive officer now owns 45,982 shares of the company’s stock, valued at $13,686,542.30. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective 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. StockNews.com initiated coverage on shares of Public Storage in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Raymond James cut shares of Public Storage from an “outperform” rating to a “market perform” rating in a report on Monday, January 9th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Public Storage presently has an average rating of “Hold” and a consensus target price of $368.91.

Public Storage Stock Up 0.6 %

Shares of NYSE:PSA opened at $290.85 on Tuesday. The stock has a market cap of $51.08 billion, a P/E ratio of 11.82, a P/E/G ratio of 2.24 and a beta of 0.39. The firm has a fifty day moving average price of $289.31 and a 200 day moving average price of $305.62. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.50 and a quick ratio of 1.50. Public Storage has a 1-year low of $270.13 and a 1-year high of $421.76.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Stockholders of record on Wednesday, December 14th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Tuesday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 32.52%.

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

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

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