Naples Global Advisors LLC Has $292,000 Holdings in Public Storage (NYSE:PSA)

Naples Global Advisors LLC trimmed its stake in Public Storage (NYSE:PSAGet Rating) by 7.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 934 shares of the real estate investment trust’s stock after selling 75 shares during the period. Naples Global Advisors LLC’s holdings in Public Storage were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. State Street Corp increased its position 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. JPMorgan Chase & Co. increased its holdings in Public Storage by 15.0% in the 1st 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 buying an additional 362,327 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Public Storage by 54.9% during the 1st quarter. Russell Investments Group Ltd. now owns 939,881 shares of the real estate investment trust’s stock worth $367,331,000 after acquiring an additional 333,170 shares during the period. Vanguard Group Inc. boosted 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 in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Public Storage by 931.5% during the 1st quarter. American Century Companies Inc. now owns 300,574 shares of the real estate investment trust’s stock valued at $117,309,000 after acquiring an additional 271,434 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Public Storage Stock Up 1.4 %

Shares of NYSE PSA opened at $293.51 on Monday. Public Storage has a 12-month low of $270.73 and a 12-month high of $421.76. The firm’s 50-day simple moving average is $295.87 and its 200 day simple moving average is $314.49. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.17. The company has a market cap of $51.55 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40.

Public Storage Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.73%. Public Storage’s payout ratio is 32.52%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Public Storage in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James cut Public Storage from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $365.00 to $380.00 in a report on Tuesday, August 16th. Morgan Stanley decreased their price target on Public Storage from $298.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 13th. Evercore ISI dropped their price objective on Public Storage from $333.00 to $327.00 and set an “in-line” rating for the company in a research note on Monday, September 19th. Finally, UBS Group cut their price objective on Public Storage from $390.00 to $336.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $368.91.

About Public Storage

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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.

See Also

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

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