4,266 Shares in Public Storage (NYSE:PSA) Bought by Jump Financial LLC

Jump Financial LLC bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,266 shares of the real estate investment trust's stock, valued at approximately $1,301,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $32,000. Private Ocean LLC increased its holdings in shares of Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 109 shares during the period. Centerpoint Advisors LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $35,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $35,000. Finally, Aspire Private Capital LLC increased its holdings in shares of Public Storage by 44.0% in the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 44 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Storage

In other Public Storage news, Director Kristy Pipes acquired 2,149 shares of the business's stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, with a total value of $599,485.04. Following the completion of the transaction, the director now owns 2,149 shares in the company, valued at $599,485.04. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 11.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSA shares. BMO Capital Markets increased their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, March 19th. Scotiabank raised their target price on shares of Public Storage from $267.00 to $270.00 and gave the company a "sector perform" rating in a research note on Monday, March 18th. Raymond James raised shares of Public Storage from a "market perform" rating to a "strong-buy" rating and set a $330.00 target price on the stock in a research note on Thursday, March 28th. Barclays began coverage on shares of Public Storage in a research note on Wednesday, March 27th. They set an "overweight" rating and a $330.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Public Storage from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $280.00 to $310.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $305.00.

Public Storage Trading Up 0.6 %

Shares of PSA traded up $1.68 during midday trading on Friday, hitting $288.70. The stock had a trading volume of 764,099 shares, compared to its average volume of 714,522. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The firm has a market cap of $50.73 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 3.76 and a beta of 0.57. The business has a 50-day simple moving average of $275.50 and a two-hundred day simple moving average of $277.57. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.16 earnings per share. As a group, equities analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, June 12th. Public Storage's payout ratio is presently 108.99%.

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.