Fiera Capital Corp Acquires 150 Shares of Public Storage (NYSE:PSA)

Fiera Capital Corp grew its holdings in shares of Public Storage (NYSE:PSAGet Rating) by 19.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 920 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the quarter. Fiera Capital Corp’s holdings in Public Storage were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the 2nd quarter worth $26,000. American National Bank raised its holdings in Public Storage by 180.0% in the 2nd quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 54 shares during the period. Wellington Shields Capital Management LLC bought a new position in Public Storage in the 1st quarter worth $38,000. Benjamin F. Edwards & Company Inc. raised its holdings in Public Storage by 586.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 103 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 88 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Public Storage in the 1st quarter worth $47,000. Institutional investors own 78.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PSA. Morgan Stanley dropped their target price on shares of Public Storage from $298.00 to $290.00 and set an “equal weight” rating on the stock in a report on Thursday, October 13th. UBS Group decreased their price target on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research report on Monday, July 25th. Citigroup restated a “buy” rating and issued a $367.00 price target on shares of Public Storage in a research report on Thursday, July 28th. StockNews.com began coverage on shares of Public Storage in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Evercore ISI decreased their price target on shares of Public Storage from $333.00 to $327.00 and set an “in-line” rating on the stock in a research report on Monday, September 19th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $368.91.

Insider Activity

In other news, Director Tamara Hughes Gustavson sold 203 shares of Public Storage stock in a transaction dated Monday, August 22nd. The shares were 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 in the company, valued at approximately $1,915,595. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is owned by company insiders.

Public Storage Price Performance

Shares of Public Storage stock opened at $293.51 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.50 and a current ratio of 1.50. The firm’s 50-day simple moving average is $295.87 and its 200-day simple moving average is $315.06. Public Storage has a twelve month low of $270.73 and a twelve month high of $421.76. The firm has a market cap of $51.55 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 2.42 and a beta of 0.40.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Wednesday, December 14th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, December 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.73%. Public Storage’s dividend payout ratio (DPR) is currently 32.52%.

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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