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


Tcwp LLC purchased a new position in Public Storage (NYSE:PSA – Get Rating ) in 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 the business. BlackRock Inc. grew its stake in Public Storage by 2.7% during the 4th quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock valued at $6,463,290,000 after purchasing an additional 456,793 shares during the last quarter. State Street Corp raised its position in Public Storage by 6.1% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its stake in Public Storage by 2.1% in the 4th 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 4th quarter. Northern Trust Corp now owns 2,792,588 shares of the real estate investment trust’s stock valued at $1,045,992,000 after buying an additional 430,899 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Public Storage in the fourth quarter valued at about $735,608,000. 78.54% of the shares are currently owned by institutional investors.

Internal activity

In related news, Director Tamara Hughes Gustavson sold 830 shares of Public Storage stock in a transaction dated 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 is available at this link. In other Public Storage news, Director John Reyes sold 51,637 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were 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 available at this link. Also, 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 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. Disclosure of this sale can be found here. Insiders own 11.00% of the company’s stock.

Changes in analyst ratings

A number of research analysts recently issued reports on the company. Jefferies Financial Group reduced 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 raised 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 cut shares of Public Storage from a “strong-buy” rating to an “outperform” rating and upped their target price 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 cut their target price 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.

Efficiency of public storage warehouse

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 cap 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.

Dividend announcement for public storage

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

About the public repository

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

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)



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