First Bank & Trust Has $1.05 Million Stake in Public Storage (PSA)
First Bank & Trust grew its position in Public Storage (NYSE:PSA) by 37.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,041 shares of the real estate investment trust’s stock after acquiring an additional 1,377 shares during the period. First Bank & Trust’s holdings in Public Storage were worth $1,053,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 75 shares in the last quarter. Cable Hill Partners LLC boosted its holdings in shares of Public Storage by 139.9% in the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 459 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Public Storage by 23.8% in the second quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 170 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of Public Storage in the second quarter valued at about $198,000. Finally, IHT Wealth Management LLC boosted its holdings in shares of Public Storage by 43.0% in the second quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 175 shares in the last quarter. 80.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Public Storage (PSA) traded up $1.94 during midday trading on Thursday, hitting $195.69. 737,900 shares of the company traded hands, compared to its average volume of 838,327. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The firm has a market capitalization of $33,710.00, a PE ratio of 28.61, a price-to-earnings-growth ratio of 4.00 and a beta of 0.44.
Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by ($0.99). Public Storage had a net margin of 52.48% and a return on equity of 27.78%. sell-side analysts predict that Public Storage will post 10.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, December 12th. Public Storage’s dividend payout ratio (DPR) is 116.96%.
Several brokerages have recently weighed in on PSA. Morgan Stanley downgraded shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a report on Wednesday, December 13th. Bank of America downgraded shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price on the stock. in a report on Monday, December 4th. They noted that the move was a valuation call. Jefferies Group set a $212.00 target price on shares of Public Storage and gave the company a “hold” rating in a report on Tuesday, November 28th. Robert W. Baird cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price objective for the company. in a research note on Tuesday, November 28th. Finally, B. Riley set a $220.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research note on Wednesday, November 15th. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Public Storage presently has an average rating of “Hold” and a consensus target price of $209.38.
In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares in the company, valued at $1,770,951.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is owned by company insiders.
About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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