American National Bank Raises Stake in Public Storage (NYSE:PSA)

American National Bank boosted its position in Public Storage (NYSE:PSAGet Rating) by 180.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84 shares of the real estate investment trust’s stock after buying an additional 54 shares during the quarter. American National Bank’s holdings in Public Storage were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Public Storage by 1.4% during the first 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 purchasing an additional 275,264 shares during the period. BlackRock Inc. boosted its stake in shares of Public Storage by 2.7% during the fourth quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock valued at $6,463,290,000 after purchasing an additional 456,793 shares during the period. State Street Corp boosted its stake in shares of Public Storage by 10.3% during the first quarter. State Street Corp now owns 11,667,458 shares of the real estate investment trust’s stock valued at $4,553,576,000 after purchasing an additional 1,085,578 shares during the period. Wellington Management Group LLP boosted its stake in shares of Public Storage by 1.9% during the first quarter. Wellington Management Group LLP now owns 4,041,870 shares of the real estate investment trust’s stock valued at $1,577,461,000 after purchasing an additional 74,406 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Public Storage by 15.0% during the first quarter. JPMorgan Chase & Co. now owns 2,781,663 shares of the real estate investment trust’s stock valued at $1,085,625,000 after purchasing an additional 362,327 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PSA shares. 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 report on Wednesday, June 1st. Citigroup restated a “buy” rating and set a $367.00 target price on shares of Public Storage in a report on Thursday, July 28th. Stifel Nicolaus decreased their target price on Public Storage from $410.00 to $360.00 in a report on Tuesday, June 21st. Evercore ISI set a $348.00 target price on Public Storage in a report on Monday, June 20th. Finally, StockNews.com upgraded Public Storage from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $367.33.

Public Storage Trading Down 0.2 %

NYSE PSA opened at $313.15 on Monday. Public Storage has a 12 month low of $292.32 and a 12 month high of $421.76. The stock has a market cap 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 stock’s fifty day moving average price is $332.11 and its 200-day moving average price is $344.07. 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 announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders 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 dividend yield of 2.55%. Public Storage’s dividend payout ratio is currently 68.14%.

Insider Transactions at Public Storage

In related news, Director Tamara Hughes Gustavson sold 203 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $348.29, for a total transaction of $70,702.87. Following 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 Securities & Exchange Commission, which is available at this link. In related news, Director Tamara Hughes Gustavson sold 203 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $348.29, for a total transaction of $70,702.87. Following 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 Securities & Exchange Commission, which is available at this link. Also, Director John Reyes sold 51,637 shares of the 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 sale, the director now directly owns 175,449 shares in the company, valued at $61,959,814.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,670 shares of company stock valued at $18,599,374. Insiders own 11.00% of the company’s stock.

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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