AQR Capital Management LLC Sells 162,942 Shares of Public Storage (NYSE:PSA)

AQR Capital Management LLC lessened its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 44.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,339 shares of the real estate investment trust's stock after selling 162,942 shares during the period. AQR Capital Management LLC owned about 0.12% of Public Storage worth $61,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Doliver Advisors LP lifted its position in shares of Public Storage by 2.6% during the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after acquiring an additional 36 shares during the period. Brooklyn Investment Group lifted its position in Public Storage by 3.4% during the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after purchasing an additional 38 shares during the period. Werba Rubin Papier Wealth Management grew its stake in Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after buying an additional 38 shares in the last quarter. Lido Advisors LLC increased its holdings in Public Storage by 0.9% in the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after buying an additional 39 shares during the period. Finally, Premier Path Wealth Partners LLC raised its position in shares of Public Storage by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after buying an additional 40 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 1.0 %

Public Storage stock traded up $2.85 during mid-day trading on Wednesday, hitting $300.83. 163,194 shares of the stock were exchanged, compared to its average volume of 737,515. The firm's fifty day simple moving average is $294.50 and its two-hundred day simple moving average is $307.38. 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 12 month low of $256.60 and a 12 month high of $369.99. The stock has a market capitalization of $52.77 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 4.91 and a beta of 0.91.

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

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.99%. Public Storage's dividend payout ratio is presently 119.17%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho started coverage on shares of Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective on the stock. Evercore ISI increased their price target on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Barclays reaffirmed an "overweight" rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research note on Thursday, April 10th. Finally, Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.75.

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.