First Nebraska Trust Co Makes New Investment in Public Storage $PSA

Key Points

• First Nebraska Trust Co. acquired 11,012 shares of Public Storage during the first quarter, valued at approximately $2.98 million. Institutional investors collectively own 78.79% of PSA’s outstanding shares.
• Analysts maintain a consensus “Hold” rating on Public Storage, with a consensus price target of $326.05; recent targets range from $316 to $363.
• Public Storage paid a quarterly dividend of $3.00 per share, equivalent to an annualized $12.00 dividend and a 3.7% yield.

First Nebraska Trust Co purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,012 shares of the real estate investment trust's stock, valued at approximately $2,983,000.

A number of other institutional investors also recently modified their holdings of PSA. Allen Capital Group LLC acquired a new stake in shares of Public Storage in the first quarter worth $229,000. Glenmede Trust Co. NA boosted its holdings in shares of Public Storage by 5.1% during the 1st quarter. Glenmede Trust Co. NA now owns 2,659 shares of the real estate investment trust's stock worth $720,000 after buying an additional 130 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Public Storage in the 1st quarter valued at $400,000. CTC Alternative Strategies Ltd. acquired a new position in Public Storage in the 1st quarter valued at $390,000. Finally, Western Wealth Management LLC bought a new position in Public Storage in the 1st quarter worth $139,000. Institutional investors own 78.79% of the company's stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 950 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a "sector perform" rating in a research report on Friday. Citigroup raised their price target on Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. BMO Capital Markets lifted their price objective on Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a research note on Monday, June 15th. JPMorgan Chase & Co. boosted their price objective on Public Storage from $291.00 to $338.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Finally, Evercore set a $316.00 price objective on Public Storage in a research report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $326.05.

Public Storage Stock Performance

NYSE:PSA opened at $324.99 on Friday. The firm's 50-day moving average is $317.75 and its 200-day moving average is $301.83. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.56 and a current ratio of 0.66. The company has a market cap of $57.05 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 4.37 and a beta of 0.96.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage's dividend payout ratio (DPR) is 114.50%.

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.

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