Worldquant Millennium Advisors LLC Purchases 3,854 Shares of Public Storage (NYSE:PSA)

Worldquant Millennium Advisors LLC boosted its position in Public Storage (NYSE:PSA - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,475 shares of the real estate investment trust's stock after acquiring an additional 3,854 shares during the period. Worldquant Millennium Advisors LLC's holdings in Public Storage were worth $6,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSA. Quent Capital LLC boosted its holdings 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 worth $26,000 after acquiring an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Public Storage in the fourth quarter worth approximately $32,000. Synergy Asset Management LLC bought a new position in Public Storage in the fourth quarter worth approximately $38,000. Millstone Evans Group LLC bought a new position in Public Storage in the fourth quarter worth approximately $38,000. Finally, Parvin Asset Management LLC bought a new position in Public Storage in the fourth quarter worth approximately $38,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA opened at $296.13 on Thursday. 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 capitalization of $51.95 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 4.91 and a beta of 0.91. The stock has a 50 day moving average of $293.82 and a 200 day moving average of $305.26. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99.

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

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Thursday, June 12th. Public Storage's dividend payout ratio is currently 119.17%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Scotiabank increased their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Barclays dropped their target price on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Mizuho initiated coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $337.42.

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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