O Shaughnessy Asset Management LLC Sells 2,323 Shares of Public Storage (NYSE:PSA)

O Shaughnessy Asset Management LLC lowered its position in Public Storage (NYSE:PSAGet Rating) by 30.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,257 shares of the real estate investment trust’s stock after selling 2,323 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Public Storage were worth $1,644,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage in the 2nd quarter worth approximately $26,000. American National Bank raised its position in shares of 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 in the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Public Storage in the 1st quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. raised its position in shares of 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 in the last quarter. Finally, Tcwp LLC bought a new position in shares of Public Storage in the 1st quarter worth approximately $47,000. Institutional investors own 78.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PSA shares. Raymond James lowered Public Storage from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $365.00 to $380.00 in a research report on Tuesday, August 16th. Evercore ISI reduced their price objective on Public Storage from $333.00 to $327.00 and set an “in-line” rating for the company in a research report on Monday, September 19th. StockNews.com started coverage on Public Storage in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup reaffirmed a “buy” rating and set a $367.00 price objective on shares of Public Storage in a research report on Thursday, July 28th. Finally, Morgan Stanley reduced their price objective on Public Storage from $298.00 to $290.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Five equities 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 price target of $368.91.

Public Storage Stock Down 0.7 %

Public Storage stock opened at $297.12 on Thursday. The firm has a market cap of $52.19 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 2.50 and a beta of 0.40. The stock has a fifty day simple moving average of $294.46 and a two-hundred day simple moving average of $313.86. Public Storage has a 12 month low of $270.73 and a 12 month high of $421.76. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.17.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Wednesday, December 14th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.69%. Public Storage’s dividend payout ratio (DPR) is currently 32.52%.

Public Storage 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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