9,566 Shares in Public Storage (NYSE:PSA) Purchased by Centiva Capital LP

Centiva Capital LP purchased a new stake in Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,566 shares of the real estate investment trust's stock, valued at approximately $2,864,000.

A number of other institutional investors have also modified their holdings of the company. Quent Capital LLC lifted its position in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the fourth quarter valued at about $32,000. Synergy Asset Management LLC acquired a new position in Public Storage during the 4th quarter worth $38,000. Millstone Evans Group LLC acquired a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage in the fourth quarter worth $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a report on Friday. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and cut their price target for the company from $333.00 to $305.00 in a research report on Wednesday, April 9th. Mizuho initiated coverage on Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective on the stock. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the company 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $333.75.

Public Storage Trading Up 0.0 %

Shares of PSA opened at $300.26 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $52.67 billion, a P/E ratio of 31.18, a P/E/G ratio of 4.91 and a beta of 0.91. The company's fifty day simple moving average is $294.65 and its 200-day simple moving average is $307.45. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. Public Storage's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.03 earnings per share. As a group, analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is currently 119.17%.

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.

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