Twinbeech Capital LP Invests $17.23 Million in Public Storage (NYSE:PSA)

Twinbeech Capital LP purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 57,543 shares of the real estate investment trust's stock, valued at approximately $17,231,000.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on PSA shares. Bank of America boosted their price objective on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Mizuho began coverage on shares of Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Scotiabank upped their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Finally, Evercore ISI upped their target price on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $337.42.

Public Storage Trading Down 0.0%

Shares of PSA stock opened at $309.08 on Tuesday. The firm has a market cap of $54.22 billion, a P/E ratio of 32.10, a PEG ratio of 4.91 and a beta of 0.91. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm's 50-day simple moving average is $293.57 and its 200-day simple moving average is $305.30.

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

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Public Storage Company 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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