Gotham Asset Management LLC Buys 21,565 Shares of Public Storage (NYSE:PSA)

Gotham Asset Management LLC boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 181.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,433 shares of the real estate investment trust's stock after buying an additional 21,565 shares during the period. Gotham Asset Management LLC's holdings in Public Storage were worth $10,011,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSA. Quent Capital LLC lifted 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 last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Public Storage during the fourth quarter worth $32,000. Synergy Asset Management LLC acquired a new position in shares of Public Storage during the 4th quarter valued at about $38,000. Millstone Evans Group LLC purchased a new stake in Public Storage in the fourth quarter valued at $38,000. Finally, Parvin Asset Management LLC purchased a new stake in Public Storage in the fourth quarter valued at approximately $38,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 2.3%

Public Storage stock traded up $6.80 during mid-day trading on Thursday, hitting $304.99. 532,650 shares of the company's stock were exchanged, compared to its average volume of 745,404. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The stock has a 50 day moving average of $293.61 and a two-hundred day moving average of $306.15. The stock has a market cap of $53.50 billion, a P/E ratio of 31.67, a P/E/G ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. The firm 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 business's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.03 EPS. As a group, analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is currently 119.17%.

Analyst Ratings Changes

Several research firms have recently issued reports on PSA. Wells Fargo & Company decreased their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Scotiabank lifted their price objective on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday. Royal Bank of Canada decreased their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. 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. Finally, Bank of America boosted their price target on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average target price of $337.67.

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.