Public Storage (NYSE:PSA) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 300.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,936 shares of the real estate investment trust's stock after acquiring an additional 29,958 shares during the quarter. Marshall Wace LLP's holdings in Public Storage were worth $11,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Public Storage during the fourth quarter worth about $931,286,000. Cohen & Steers Inc. boosted its position in Public Storage by 12.3% during the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock worth $1,626,731,000 after purchasing an additional 592,944 shares in the last quarter. Amundi increased its position in shares of Public Storage by 54.0% in the fourth quarter. Amundi now owns 779,882 shares of the real estate investment trust's stock valued at $230,426,000 after buying an additional 273,486 shares in the last quarter. Aew Capital Management L P boosted its position in shares of Public Storage by 108.6% in the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after buying an additional 228,740 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Public Storage in the 4th quarter valued at about $66,253,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Down 1.0 %

Shares of NYSE:PSA traded down $2.94 during mid-day trading on Friday, hitting $290.85. 909,822 shares of the company traded hands, compared to its average volume of 738,577. The firm has a market cap of $51.02 billion, a P/E ratio of 30.20, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm's 50 day simple moving average is $295.33 and its 200 day simple moving average is $309.44. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays reiterated an "overweight" rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Scotiabank upgraded Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the company from $333.00 to $305.00 in a research report on Wednesday, April 9th. Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and upped their target price for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and raised their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $336.25.

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.