Gradient Investments LLC Buys 40,983 Shares of Public Storage (NYSE:PSA)

Gradient Investments LLC grew its stake in shares of Public Storage (NYSE:PSAGet Rating) by 1,024,575.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 40,987 shares of the real estate investment trust’s stock after acquiring 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 SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Public Storage by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 20,359,277 shares of the real estate investment trust’s stock valued at $7,945,819,000 after acquiring an additional 275,264 shares during the period. BlackRock Inc. raised its holdings in shares of Public Storage by 2.7% during the 4th quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock worth $6,463,290,000 after buying an additional 456,793 shares in the last quarter. State Street Corp raised its holdings in shares of Public Storage by 10.3% during the 1st quarter. State Street Corp now owns 11,667,458 shares of the real estate investment trust’s stock worth $4,553,576,000 after buying an additional 1,085,578 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Public Storage by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 4,041,870 shares of the real estate investment trust’s stock worth $1,577,461,000 after buying an additional 74,406 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Public Storage by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 3,183,181 shares of the real estate investment trust’s stock worth $1,189,857,000 after buying an additional 66,728 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Tamara Hughes Gustavson sold 830 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $353.09, for a total value of $293,064.70. Following the sale, the director now owns 1,430 shares in the company, valued at approximately $504,918.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 transaction of $18,235,606.55. Following the sale, the director now owns 175,449 shares in the company, valued at approximately $61,959,814.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Tamara Hughes Gustavson sold 830 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $353.09, for a total value of $293,064.70. Following the sale, the director now owns 1,430 shares in the company, valued at approximately $504,918.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,670 shares of company stock worth $18,599,374. Insiders own 11.00% of the company’s stock.

Public Storage Trading Down 0.2 %

NYSE PSA opened at $313.15 on Friday. The business’s 50-day moving average price is $332.11 and its two-hundred day moving average price is $344.22. Public Storage has a 12 month low of $292.32 and a 12 month high of $421.76. The firm has a market capitalization of $54.95 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.33. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.29.

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 given a $2.00 dividend. 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

A number of equities analysts have recently commented on the company. Citigroup reissued a “buy” rating and set a $367.00 price target on shares of Public Storage in a report on Thursday, July 28th. UBS Group lowered their price target on Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Truist Financial lowered their target price on Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Morgan Stanley lowered their target price on Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a report on Wednesday, May 25th. Finally, Jefferies Financial Group lowered their target price on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Five equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.33.

Public Storage Company 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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