Rathbones Group PLC Increases Position in Public Storage $PSA

by · The Markets Daily

Rathbones Group PLC lifted its stake in Public Storage (NYSE:PSA – Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,555 shares of the real estate investment trust’s stock after acquiring an additional 2,056 shares during the period. Rathbones Group PLC’s holdings in Public Storage were worth $16,403,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSA. V Square Quantitative Management LLC boosted its position in 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 valued at $419,000 after purchasing an additional 34 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its position in shares of Public Storage by 0.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock valued at $1,451,000 after buying an additional 39 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Truist Financial increased their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. BNP Paribas Exane raised their target price on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Royal Bank Of Canada lifted their price target on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $326.05.

Check Out Our Latest Stock Analysis on PSA

Public Storage Stock Performance

PSA opened at $325.80 on Tuesday. The company has a market cap of $57.19 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 4.37 and a beta of 0.96. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm’s 50-day moving average price is $318.17 and its 200-day moving average price is $302.31. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s dividend payout ratio is presently 114.50%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA – Free Report).