Tcwp LLC Makes New $47,000 Investment In Public Storage (NYSE:PSA)


Tcwp LLC bought a new position in Public Storage (NYSE:PSA – Get Rating ) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 121 shares of the real estate investment trust’s stock, valued at approximately $47,000.

Several other large investors have also recently modified their holdings of businesses. BlackRock Inc. raised its stake in Public Storage by 2.7% during the fourth quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock valued at $6,463,290,000 after buying an additional 456,793 shares in the last quarter. State Street Corp lifted its position in Public Storage by 6.1% in the fourth quarter. State Street Corp now owns 10,581,880 shares of the real estate investment trust’s stock valued at $3,963,549,000 after acquiring an additional 608,871 shares during the last quarter. Geode Capital Management LLC boosted its stake in Public Storage by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 3,183,181 shares of the real estate investment trust’s stock valued at $1,189,857,000 after buying an additional 66,728 shares during the period. Northern Trust Corp boosted its holdings in Public Storage by 18.2% in the fourth quarter. Northern Trust Corp now owns 2,792,588 shares of the real estate investment trust’s stock worth $1,045,992,000 after purchasing an additional 430,899 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Public Storage during the fourth quarter valued at about $735,608,000. At present, 78.54 percent shares are owned by institutional investors.

Indoor activity

In related news, Director Tamara Hughes Gustavson sold 830 shares of Public Storage stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $353.09, for a total transaction of $293,064.70. Following the completion of the sale, the director now owns 1,430 shares of the company’s stock, valued at approximately $504,918.70. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this link. In other public stock news, Director John Reyes sold 51,637 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total value of $18,235,606.55. Following the transaction, the director now directly owns 175,449 shares of the company’s stock, valued at approximately $61,959,814.35. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. Also, Director Tamara Hughes Gustavson sold 830 shares of Public Storage stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $353.09 for a total value of $293,064.70. Following the sale, the director now directly owns 1,430 shares of the company’s stock, valued at approximately $504,918.70. Disclosures for this sale can be found here. 11.00% of the company’s stock is owned by insiders.

Analyst rating changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a report on Thursday, June 30th. StockNews.com upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup restated a “buy” rating and set a $367.00 target price on shares of Public Storage in a report on Thursday, July 28th. Raymond James lowered shares of Public Storage from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $365.00 to $380.00 in a research note on Tuesday, August 16th. Finally, BMO Capital Markets upgraded shares of Public Storage from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $410.00 to $370.00 in a research note on Thursday, May 19th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and a consensus target price of $367.33, based on data from MarketBeat.

Public stock performance

Shares of NYSE PSA opened at $351.23 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $61.63 billion, a P/E ratio of 29.92, a P/E/G ratio of 3.24 and a beta of 0.34. Public Storage has a 12-month low of $292.32 and a 12-month high of $421.76. The stock has a 50-day moving average of $321.35 and a 200-day moving average of $346.95.

Public Stock Dividend Declaration

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents an $8.00 annual dividend and a dividend yield of 2.28%. Public Storage’s dividend payout ratio is currently 68.14%.

About public storage

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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) approximately 35% common equity interest in Shurgard Self Storage. SA (Euronext Brussels:SHUR) which owns 239 self-storage facilities located in seven Western European countries with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) approximately 42% common equity interest in PS Business Parks, Inc. . (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space as of September 30, 2020.

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