Grantham Mayo Van Otterloo & Co. LLC Purchases Shares of 1,800 Public Storage (NYSE:PSA)

Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of Public Storage (NYSE:PSA) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,800 shares of the real estate investment trust’s stock, valued at approximately $444,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Public Storage by 5.2% in the 1st quarter. Geode Capital Management LLC now owns 2,991,073 shares of the real estate investment trust’s stock valued at $736,643,000 after purchasing an additional 147,365 shares during the last quarter. Norges Bank purchased a new position in shares of Public Storage in the 4th quarter valued at approximately $383,136,000. UBS Asset Management Americas Inc. raised its position in shares of Public Storage by 21.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,561,713 shares of the real estate investment trust’s stock valued at $360,646,000 after purchasing an additional 272,978 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Public Storage by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,276,674 shares of the real estate investment trust’s stock valued at $294,823,000 after purchasing an additional 3,463 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Public Storage by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,273,491 shares of the real estate investment trust’s stock valued at $314,247,000 after purchasing an additional 113,112 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

In other news, VP Nathaniel A. Vitan sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $293.10, for a total transaction of $1,172,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.87% of the stock is owned by company insiders.

PSA has been the subject of several research analyst reports. Wolfe Research initiated coverage on shares of Public Storage in a research report on Monday, June 14th. They issued a “peer perform” rating and a $335.00 price objective for the company. Truist Securities increased their price target on shares of Public Storage from $290.00 to $308.00 and gave the stock a “buy” rating in a report on Monday. UBS Group initiated coverage on shares of Public Storage in a report on Thursday. They issued a “neutral” rating and a $310.00 price target on the stock. Truist increased their price target on shares of Public Storage from $269.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 17th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on shares of Public Storage from $231.00 to $266.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Public Storage presently has an average rating of “Hold” and an average price target of $274.44.

Shares of NYSE PSA opened at $301.84 on Friday. The firm has a market cap of $52.82 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 4.23 and a beta of 0.08. Public Storage has a 12 month low of $183.22 and a 12 month high of $305.59. The stock’s 50 day moving average price is $282.89. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.62.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.49). The firm had revenue of $647.80 million for the quarter, compared to analyst estimates of $753.27 million. Public Storage had a return on equity of 27.74% and a net margin of 43.22%. Public Storage’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. On average, equities analysts forecast that Public Storage will post 11.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, June 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.65%. Public Storage’s payout ratio is 75.40%.

About Public Storage

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 ÂShurgard 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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