Public Storage (PSA) Shares Bought by AE Wealth Management LLC
AE Wealth Management LLC lifted its holdings in shares of Public Storage (NYSE:PSA) by 29.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,534 shares of the real estate investment trust’s stock after purchasing an additional 345 shares during the period. AE Wealth Management LLC’s holdings in Public Storage were worth $328,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. bought a new position in Public Storage in the second quarter valued at about $105,000. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 during the last quarter. Johnson Financial Group Inc. boosted its holdings in Public Storage by 274.4% in the second quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 450 shares during the last quarter. Cable Hill Partners LLC boosted its holdings in 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 during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in 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 during the last quarter. Institutional investors own 80.31% of the company’s stock.
Shares of Public Storage (NYSE:PSA) traded up $0.21 during trading on Wednesday, reaching $211.32. The company had a trading volume of 683,700 shares, compared to its average volume of 850,583. The firm has a market cap of $36,780.00, a price-to-earnings ratio of 21.30, a PEG ratio of 4.41 and a beta of 0.43. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.79%. Public Storage’s dividend payout ratio is 116.96%.
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PSA has been the topic of several recent research reports. BidaskClub cut Public Storage from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Argus reduced their target price on Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, August 1st. Jefferies Group LLC set a $210.00 target price on Public Storage and gave the stock a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, BMO Capital Markets assumed coverage on Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 target price on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $213.08.
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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