IFM Investors Pty Ltd Has $8.09 Million Holdings in Public Storage (NYSE:PSA)

IFM Investors Pty Ltd lifted its stake in shares of Public Storage (NYSE:PSAGet Rating) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,881 shares of the real estate investment trust’s stock after buying an additional 1,374 shares during the period. IFM Investors Pty Ltd’s holdings in Public Storage were worth $8,092,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mystic Asset Management Inc. acquired a new stake in Public Storage in the fourth quarter valued at $26,000. Investors Research Corp boosted its position in shares of Public Storage by 102.5% during the 1st quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the 2nd quarter valued at about $26,000. American National Bank lifted its position in Public Storage by 180.0% in the 2nd quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 54 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in Public Storage by 119.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on PSA. Stifel Nicolaus dropped their target price on shares of Public Storage from $410.00 to $360.00 in a research report on Tuesday, June 21st. Truist Financial reduced their price objective on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Citigroup reiterated a “buy” rating and issued a $367.00 price objective on shares of Public Storage in a research note on Thursday, July 28th. Jefferies Financial Group reduced their price objective on shares of Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Finally, StockNews.com raised shares of Public Storage from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.58.

Insider Activity

In related news, Director Tamara Hughes Gustavson sold 203 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $348.29, for a total value of $70,702.87. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,915,595. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total transaction of $18,235,606.55. Following the completion of the transaction, the director now owns 175,449 shares in the company, valued at $61,959,814.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tamara Hughes Gustavson sold 203 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $348.29, for a total value of $70,702.87. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,915,595. The disclosure for this sale can be found here. Insiders have sold 52,670 shares of company stock valued at $18,599,374 in the last ninety days. 11.00% of the stock is currently owned by company insiders.

Public Storage Stock Performance

PSA stock opened at $298.91 on Friday. The stock has a market capitalization of $52.45 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.33. Public Storage has a 12-month low of $292.32 and a 12-month high of $421.76. 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 stock’s 50 day simple moving average is $331.82 and its 200 day simple moving average is $342.33.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.68%. Public Storage’s payout ratio is 68.14%.

Public Storage Profile

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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) an approximate 35% common equity 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 operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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

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