Diversify Wealth Management LLC Buys 2,716 Shares of Public Storage $PSA

Diversify Wealth Management LLC grew its position in Public Storage (NYSE:PSA) by 74.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,371 shares of the real estate investment trust’s stock after purchasing 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 large investors also recently made changes to their positions in the company. Bayban purchased a new position in Public Storage during the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage during the 3rd quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new position in shares of Public Storage in the 3rd quarter worth approximately $34,000. Raiffeisen Bank International AG grew its holdings in shares of Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 37 shares in the last quarter. Finally, Knuff & Co LLC bought a new position in shares of Public Storage in the fourth quarter valued at approximately $38,000. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PSA. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Royal Bank Of Canada lifted their target price on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. Barclays restated an “equal weight” rating and set a $349.00 price target on shares of Public Storage in a research report on Friday, July 10th. Finally, Evercore set a $316.00 price objective on shares of Public Storage in a research report on Monday, July 6th. Seven research 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 stock presently has a consensus rating of “Hold” and a consensus price target of $326.05.

Public Storage Price Performance

PSA stock opened at $328.82 on Friday. The firm has a 50 day moving average of $321.83 and a 200-day moving average of $304.42. The firm has a market capitalization of $57.75 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 3.81 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is 114.50%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the transaction, 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 the SEC website. Insiders own 11.10% of the company’s stock.

About Public Storage

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.