CVA Family Office LLC Grows Stock Position in Public Storage (NYSE:PSA)

CVA Family Office LLC increased its position in shares of Public Storage (NYSE:PSAGet Rating) by 181.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 225 shares of the real estate investment trust’s stock after buying an additional 145 shares during the quarter. CVA Family Office LLC’s holdings in Public Storage were worth $70,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. National Asset Management Inc. raised its position in shares of Public Storage by 5.2% during 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 during the period. Stratos Wealth Partners LTD. raised its position in Public Storage by 11.5% in the first quarter. Stratos Wealth Partners LTD. now owns 1,944 shares of the real estate investment trust’s stock valued at $759,000 after purchasing an additional 200 shares during the period. Bank of New Hampshire purchased a new stake in Public Storage in the first quarter valued at approximately $199,000. EHP Funds Inc. purchased a new stake in Public Storage in the first quarter valued at approximately $4,449,000. Finally, Regentatlantic Capital LLC purchased a new stake in Public Storage in the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $312.50 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $332.11 and a 200 day moving average price of $343.87. The company has a market cap of $54.83 billion, a P/E ratio of 26.62, a PEG ratio of 2.86 and a beta of 0.33. Public Storage has a 12 month low of $292.32 and a 12 month high of $421.76.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, September 14th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.56%. Public Storage’s payout ratio is currently 68.14%.

Insider Buying and Selling

In related news, Director Tamara Hughes Gustavson sold 203 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $348.29, for a total transaction of $70,702.87. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $1,915,595. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were 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 owns 5,500 shares in the company, valued at $1,915,595. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction 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 approximately $61,959,814.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,670 shares of company stock worth $18,599,374. Corporate insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSA. Morgan Stanley cut their target price 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. Jefferies Financial Group cut their target price 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. UBS Group dropped their price target on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. Citigroup restated a “buy” rating and issued a $367.00 price target on shares of Public Storage in a research note on Thursday, July 28th. Finally, Truist Financial dropped their price target on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $365.58.

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.

Further Reading

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAGet Rating).

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.