SG Americas Securities LLC Buys 56,555 Shares of Public Storage $PSA

SG Americas Securities LLC increased its stake in Public Storage (NYSE:PSA) by 579.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,320 shares of the real estate investment trust’s stock after purchasing an additional 56,555 shares during the period. SG Americas Securities LLC’s holdings in Public Storage were worth $17,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PSA. Empowered Funds LLC grew its holdings in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 373 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Public Storage in the 2nd quarter valued at approximately $929,000. Global Retirement Partners LLC bought a new stake in Public Storage in the 2nd quarter valued at approximately $817,000. Steward Partners Investment Advisory LLC lifted its stake in Public Storage by 101.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 11,984 shares of the real estate investment trust’s stock valued at $3,516,000 after acquiring an additional 6,038 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Public Storage by 28.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,417 shares of the real estate investment trust’s stock worth $3,057,000 after acquiring an additional 2,326 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSA. Wolfe Research cut shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Evercore set a $302.00 target price on shares of Public Storage in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company lowered shares of Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $306.53.

Public Storage Stock Down 0.8%

PSA stock opened at $265.97 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The business has a 50 day moving average price of $290.29 and a two-hundred day moving average price of $283.55. The company has a market cap of $46.68 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 5.51 and a beta of 0.99. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, March 16th. Public Storage’s payout ratio is presently 133.04%.

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.