Public Storage (NYSE:PSA) Position Trimmed by Bank of New Hampshire

Bank of New Hampshire lessened its holdings in shares of Public Storage (NYSE:PSAGet Rating) by 19.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Bank of New Hampshire’s holdings in Public Storage were worth $128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PSA. National Asset Management Inc. grew its stake in shares of Public Storage by 5.2% in the 1st quarter. National Asset Management Inc. now owns 1,620 shares of the real estate investment trust’s stock valued at $632,000 after buying an additional 80 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Public Storage by 11.5% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,944 shares of the real estate investment trust’s stock valued at $759,000 after buying an additional 200 shares in the last quarter. EHP Funds Inc. bought a new stake in shares of Public Storage in the 1st quarter valued at approximately $4,449,000. Regentatlantic Capital LLC bought a new stake in shares of Public Storage in the 1st quarter valued at approximately $218,000. Finally, Destiny Wealth Partners LLC grew its stake in shares of Public Storage by 18.2% in the 1st quarter. Destiny Wealth Partners LLC now owns 299 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Public Storage Stock Down 0.2 %

Shares of PSA stock opened at $313.15 on Friday. Public Storage has a 12 month low of $292.32 and a 12 month high of $421.76. The firm has a market cap of $54.95 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.33. The stock has a 50 day moving average of $332.16 and a 200-day moving average of $344.54. 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 Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, September 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.55%. Public Storage’s dividend payout ratio (DPR) is presently 68.14%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James cut Public Storage from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $365.00 to $380.00 in a research note on Tuesday, August 16th. Jefferies Financial Group decreased their target price on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. 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. Citigroup reaffirmed a “buy” rating and set a $367.00 target price on shares of Public Storage in a research report on Thursday, July 28th. Finally, Morgan Stanley decreased their target price on Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $367.33.

Insider Transactions 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 value of $18,235,606.55. Following the completion of the transaction, the director now directly owns 175,449 shares in the company, valued at $61,959,814.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Tamara Hughes Gustavson sold 203 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was 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 directly owns 5,500 shares in the company, valued at $1,915,595. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Reyes sold 51,637 shares of the company’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 of the company’s stock, valued at $61,959,814.35. 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 three months. 11.00% of the stock is currently 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.

See Also

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

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