Public Storage $PSA Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments trimmed its stake by 10.6% in Public Storage (PSA) during Q4, selling 75,607 shares to leave 635,726 shares (~0.36% of PSA) worth about $160.18 million, and institutional investors now own roughly 78.79% of the stock.
• Public Storage pays a $3.00 quarterly dividend ( $12.00 annualized, 3.9% yield) with a payout ratio of 133.04%; analysts hold a consensus rating of "Moderate Buy" with a $308.50 price target and the stock trades near $308.57 (market cap ~$54.16B).

Montrusco Bolton Investments Inc. trimmed its position in Public Storage (NYSE:PSA - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 635,726 shares of the real estate investment trust's stock after selling 75,607 shares during the period. Public Storage comprises about 2.0% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 20th largest holding. Montrusco Bolton Investments Inc. owned approximately 0.36% of Public Storage worth $160,182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service lifted its holdings in Public Storage by 4.2% in the third quarter. National Pension Service now owns 255,300 shares of the real estate investment trust's stock valued at $73,743,000 after acquiring an additional 10,345 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Public Storage by 57.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust's stock valued at $1,437,000 after purchasing an additional 1,816 shares during the period. Cornerstone Planning Group LLC raised its position in Public Storage by 14,992.3% in the third quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust's stock valued at $3,400,000 after purchasing an additional 11,694 shares during the period. Vanderbilt University raised its position in Public Storage by 103.1% in the third quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust's stock valued at $2,632,000 after purchasing an additional 4,626 shares during the period. Finally, Jones Financial Companies Lllp raised its position in Public Storage by 19.9% in the third quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust's stock valued at $11,766,000 after purchasing an additional 6,814 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of PSA stock opened at $308.57 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a fifty day moving average price of $293.62 and a 200 day moving average price of $284.46. The company has a market cap of $54.16 billion, a P/E ratio of 34.21, a PEG ratio of 4.13 and a beta of 1.02. Public Storage has a 12 month low of $256.54 and a 12 month high of $313.51.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, March 16th. Public Storage's dividend payout ratio is currently 133.04%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays boosted their target price on Public Storage from $347.00 to $352.00 and gave the company an "overweight" rating in a research report on Monday. Evercore cut their price objective on Public Storage from $311.00 to $309.00 in a research report on Monday, April 13th. Truist Financial upped their price objective on Public Storage from $315.00 to $317.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Wall Street Zen lowered Public Storage from a "hold" rating to a "sell" rating in a research report on Sunday, March 29th. Finally, William Blair set a $305.00 price objective on Public Storage in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $308.50.

Public Storage 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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