Peak Financial Advisors LLC Acquires 1,597 Shares of Public Storage $PSA

Peak Financial Advisors LLC acquired a new stake in Public Storage (NYSE:PSA) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,597 shares of the real estate investment trust’s stock, valued at approximately $452,000.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Public Storage in the second quarter worth $5,495,077,000. Dimensional Fund Advisors LP raised its stake in Public Storage by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,280,540 shares of the real estate investment trust’s stock valued at $617,720,000 after purchasing an additional 67,787 shares in the last quarter. Legal & General Group Plc bought a new stake in Public Storage during the second quarter worth about $601,650,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Public Storage during the second quarter worth about $558,904,000. Finally, Deutsche Bank AG bought a new stake in Public Storage during the second quarter worth about $400,776,000. 78.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $324.95 on Friday. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.16. The stock’s 50-day simple moving average is $298.85 and its 200 day simple moving average is $302.79. The firm has a market capitalization of $60.71 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 4.73 and a beta of 0.94.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.80). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.31 EPS. On average, analysts anticipate that Public Storage will post 16.95 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s payout ratio is 125.65%.

Analyst Ratings Changes

Several equities analysts have commented on PSA shares. Wells Fargo & Company set a $311.00 target price on shares of Public Storage in a report on Tuesday, September 1st. JPMorgan Chase & Co. cut their price target on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a report on Monday, September 21st. Evercore set a $308.00 price target on shares of Public Storage in a report on Monday, September 21st. Mizuho increased their price target on shares of Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Finally, UBS Group reissued a “neutral” rating on shares of Public Storage in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $323.68.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.