Public Storage $PSA Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its position in shares of Public Storage (NYSE:PSA) by 14.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,999 shares of the real estate investment trust’s stock after selling 2,453 shares during the period. NewEdge Advisors LLC’s holdings in Public Storage were worth $4,063,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Public Storage by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after buying an additional 2,274,397 shares during the last quarter. Norges Bank acquired a new position in Public Storage in the fourth quarter valued at approximately $1,163,751,000. Capital International Investors lifted its holdings in Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC grew its position in Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after acquiring an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. grew its position in Public Storage by 9.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after acquiring an additional 339,882 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. BNP Paribas Exane increased their price target on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating for the company. Evercore set a $316.00 price objective on shares of Public Storage in a report on Monday, July 6th. Finally, Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $326.05.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 11.10% of the company’s stock.

Public Storage Stock Down 0.4%

Shares of NYSE PSA opened at $323.96 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The business’s 50 day moving average is $321.39 and its two-hundred day moving average is $304.09. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The firm has a market cap of $56.89 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 3.83 and a beta of 0.96.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio is presently 114.50%.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.