MSH Capital Advisors LLC acquired a new stake in Public Storage (NYSE:PSA – Free Report) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,774 shares of the real estate investment trust’s stock, valued at approximately $565,000.
Several other large investors have also modified their holdings of PSA. V Square Quantitative Management LLC grew its position in shares of Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 34 shares during the last quarter. Gryphon Financial Partners LLC raised its position in Public Storage by 2.6% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 37 shares during the last quarter. Raiffeisen Bank International AG raised its position in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares during the last quarter. Finally, Chesapeake Capital Corp IL boosted its stake in Public Storage by 1.3% during the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 38 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.
Public Storage Stock Performance
NYSE:PSA opened at $325.37 on Thursday. The firm’s fifty day moving average price is $322.45 and its 200 day moving average price is $305.77. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $57.14 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 3.81 and a beta of 0.96.
Public Storage Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is 114.50%.
Insider Activity
In related news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
PSA has been the topic of several research reports. 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. Truist Financial upped their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. BMO Capital Markets increased their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Barclays raised their price target on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, UBS Group boosted their price target on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Public Storage presently has an average rating of “Hold” and an average price target of $326.16.
Check Out Our Latest Research Report on Public Storage
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.
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