Susquehanna Fundamental Investments LLC Purchases New Holdings in Public Storage (NYSE:PSA)

Susquehanna Fundamental Investments LLC purchased a new position in Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,845 shares of the real estate investment trust's stock, valued at approximately $17,321,000.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust's stock valued at $16,089,000 after purchasing an additional 2,566 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust's stock worth $8,566,000 after purchasing an additional 5,793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Public Storage by 30.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock worth $40,926,000 after buying an additional 31,662 shares during the period. Meridian Wealth Management LLC purchased a new position in Public Storage during the 4th quarter worth approximately $395,000. Finally, Aew Capital Management L P boosted its holdings in shares of Public Storage by 108.6% in the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock valued at $131,574,000 after acquiring an additional 228,740 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 2.6 %

Public Storage stock traded up $7.55 during trading on Wednesday, reaching $300.54. The stock had a trading volume of 1,044,168 shares, compared to its average volume of 832,676. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 52-week low of $289.23 and a 52-week high of $301.11. The stock has a market cap of $52.72 billion, a PE ratio of 31.21, a P/E/G ratio of 4.91 and a beta of 0.76. The business has a 50 day moving average price of $295.02 and a 200 day moving average price of $308.97.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $4.09 by $0.03. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. On average, analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is 112.89%.

Wall Street Analyst Weigh In

PSA has been the topic of several analyst reports. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and cut their price target for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Mizuho initiated coverage on Public Storage in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective on the stock. Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and lifted their target price for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $336.25.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.