D. E. Shaw & Co. Inc. Has $7.52 Million Stock Holdings in Public Storage (NYSE:PSA)

D. E. Shaw & Co. Inc. raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 249.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,105 shares of the real estate investment trust's stock after purchasing an additional 17,923 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Public Storage were worth $7,517,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Public Storage by 2.9% in the 3rd quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust's stock valued at $169,433,000 after purchasing an additional 13,065 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Public Storage by 70.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 255 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 105 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Public Storage by 9.9% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 1,530 shares of the real estate investment trust's stock valued at $458,000 after purchasing an additional 138 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Public Storage by 7.7% in the fourth quarter. Park Avenue Securities LLC now owns 3,133 shares of the real estate investment trust's stock valued at $938,000 after purchasing an additional 225 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Public Storage by 6.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,219 shares of the real estate investment trust's stock valued at $1,563,000 after buying an additional 298 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE:PSA traded down $7.54 during mid-day trading on Wednesday, hitting $300.28. The stock had a trading volume of 93,935 shares, compared to its average volume of 741,456. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. 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 stock has a market capitalization of $52.68 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 4.91 and a beta of 0.91. The company has a 50 day simple moving average of $293.87 and a 200-day simple moving average of $305.32.

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

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.00%. Public Storage's dividend payout ratio is currently 119.17%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent analyst reports. Mizuho assumed coverage on shares of Public Storage in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Royal Bank of Canada decreased their price objective on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. 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 note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Bank of America increased their price target on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $337.42.

About Public Storage

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.