Burke & Herbert Bank & Trust Co. Buys Shares of 1,148 Public Storage (PSA)

Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,148 shares of the real estate investment trust’s stock, valued at approximately $240,000.

A number of other hedge funds have also made changes to their positions in the business. Carnegie Capital Asset Management LLC lifted its position in Public Storage by 4.8% during the second quarter. Carnegie Capital Asset Management LLC now owns 1,540 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 70 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Public Storage by 15.3% during 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 buying an additional 75 shares in the last quarter. Pinebridge Investments L.P. lifted its position in Public Storage by 3.4% during the second quarter. Pinebridge Investments L.P. now owns 2,813 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 92 shares in the last quarter. Advisor Group Inc. lifted its position in Public Storage by 1.1% during the second quarter. Advisor Group Inc. now owns 15,191 shares of the real estate investment trust’s stock valued at $3,141,000 after buying an additional 161 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in Public Storage by 23.8% during the second quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 170 shares in the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Storage (NYSE:PSA) traded up $0.20 during trading hours on Tuesday, hitting $193.75. 1,034,218 shares of the company were exchanged, compared to its average volume of 835,620. The company has a market capitalization of $34,060.00, a price-to-earnings ratio of 28.33, a PEG ratio of 4.00 and a beta of 0.44. Public Storage has a fifty-two week low of $192.15 and a fifty-two week high of $232.21.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.99). Public Storage had a return on equity of 27.78% and a net margin of 52.48%. equities analysts predict that Public Storage will post 10.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage’s dividend payout ratio (DPR) is presently 116.96%.

A number of research analysts have recently commented on the stock. Robert W. Baird cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price on the stock. in a research report on Tuesday, November 28th. Barclays reissued a “hold” rating and set a $207.00 target price on shares of Public Storage in a research report on Thursday, October 19th. B. Riley set a $220.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Bank of America cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price on the stock. in a research report on Monday, December 4th. They noted that the move was a valuation call. Finally, Morgan Stanley cut shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a research report on Wednesday, December 13th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Public Storage has an average rating of “Hold” and a consensus price target of $209.38.

In related news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the sale, the director now owns 8,350 shares in the company, valued at $1,770,951.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by insiders.

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

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