5 Best New Stocks to Buy in 2021 According to Billionaire Paul Singer

4. Public Storage (NYSE: PSA)

Value: $132,785,000
Percent of Paul Singer’s 13F Portfolio: 1.29%
No. of Hedge Fund Holders: 31

Public Storage is one of the best new stocks to buy according to billionaire Paul Singer as Elliott Management built a new stake in the storage facilities company in the fourth quarter of 2020. The company recently bought Maryland-based ezStorage, which has 48 properties in Washington DC, Virginia, and Maryland. In the fourth quarter, Public Storage posted FFO per share of $2.93, above the Street’s estimate of $2.85. Revenue in the quarter totaled $748.5 million, above the consensus of $731 million.

As of the end of the fourth quarter of 2020, Ric Dillon’s Diamond Hill Capital owns 777,909 shares of PSA worth $179.6 million. PSA accounts for 0.84% of Diamond Hill’s total portfolio.

Third Avenue Management in their Q3 2020 investor letter, said that they sold some shares of Public Storage (NYSE: PSA). Here is what Third Avenue Management has to say about Public Storage in their investor letter:

“During the period, the Fund reduced its exposure to the common stock of Public Storage, Incorporated.- The proceeds from this reduction was primarily used to fund a new investment position.”