Gradient Investments LLC Has $12.82 Million Stock Position in Public Storage (NYSE:PSA)

Gradient Investments LLC lifted its stake in Public Storage (NYSE:PSAGet Rating) by 1,024,575.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,987 shares of the real estate investment trust’s stock after purchasing an additional 40,983 shares during the quarter. Gradient Investments LLC’s holdings in Public Storage were worth $12,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Signaturefd LLC raised its position in shares of Public Storage by 1.7% during the first quarter. Signaturefd LLC now owns 1,719 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 28 shares during the last quarter. Glassman Wealth Services grew its holdings in shares of Public Storage by 16.4% during the 4th quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 29 shares in the last quarter. Jacobi Capital Management LLC increased its position in shares of Public Storage by 2.2% during the first quarter. Jacobi Capital Management LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 31 shares during the period. Trust Co. of Vermont raised its stake in shares of Public Storage by 3.4% in the first quarter. Trust Co. of Vermont now owns 983 shares of the real estate investment trust’s stock valued at $384,000 after purchasing an additional 32 shares in the last quarter. Finally, Old Port Advisors raised its stake in shares of Public Storage by 0.9% in the first quarter. Old Port Advisors now owns 3,919 shares of the real estate investment trust’s stock valued at $1,554,000 after purchasing an additional 36 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of several research reports. Citigroup reaffirmed a “buy” rating and issued a $367.00 target price on shares of Public Storage in a research report on Thursday, July 28th. Morgan Stanley lowered their price target on 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. Truist Financial lowered their price target on Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. StockNews.com upgraded Public Storage from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Finally, Jefferies Financial Group lowered their price target on 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.33.

Public Storage Stock Down 0.2 %

NYSE:PSA opened at $313.15 on Friday. 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 50-day simple moving average of $332.11 and a 200 day simple moving average of $344.22. The company has a market cap of $54.95 billion, a PE ratio of 26.67, a PEG ratio of 2.86 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 Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.55%. Public Storage’s dividend payout ratio is 68.14%.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Tamara Hughes Gustavson sold 203 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 5,500 shares of the company’s stock, valued at $1,915,595. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly 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 ninety days. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Company Profile

(Get Rating)

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.

Featured Stories

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

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.