Diversify Wealth Management LLC Increases Stock Position in Public Storage $PSA

Diversify Wealth Management LLC grew its stake in Public Storage (NYSE:PSA) by 74.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,371 shares of the real estate investment trust’s stock after buying an additional 2,716 shares during the period. Diversify Wealth Management LLC’s holdings in Public Storage were worth $2,064,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Public Storage during the 4th quarter worth $1,163,751,000. Capital International Investors raised its position in Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares in the last quarter. Vanguard Group Inc. lifted its stake in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares during the last quarter. First Trust Advisors LP lifted its stake in Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock worth $187,252,000 after purchasing an additional 535,465 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after purchasing an additional 481,872 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays reiterated an “equal weight” rating and set a $349.00 price objective on shares of Public Storage in a research report on Friday, July 10th. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Raymond James Financial began coverage on shares of Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating on the stock. UBS Group boosted their price objective on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Finally, Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $326.05.

Public Storage Trading Up 1.6%

Shares of PSA stock opened at $328.82 on Friday. The business has a 50-day moving average of $321.83 and a 200 day moving average of $304.42. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The stock has a market capitalization of $57.75 billion, a PE ratio of 31.38, a P/E/G ratio of 3.81 and a beta of 0.96.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.6%. Public Storage’s payout ratio is presently 114.50%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the sale, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.10% of the company’s stock.

Public Storage Company 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.