Public Storage (NYSE:PSA) Short Interest Up 32.6% in March

Key Points

• Short interest jumped 32.6% in March to 6,779,269 shares (about 4.3% of shares outstanding) with a days-to-cover of 4.3, indicating increased bearish positioning.
• Analysts rate the stock a consensus "Moderate Buy" with a mean target of $308.22, while PSA traded up to $309.51—near its 52‑week high of $312.95—suggesting the market price roughly aligns with analyst expectations.
• Public Storage paid a quarterly dividend of $3.00 (annualized $12.00) for a ~3.9% yield, but the payout ratio is elevated at 133.04%, which could raise sustainability concerns for income-focused investors.

Public Storage (NYSE:PSA - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 6,779,269 shares, an increase of 32.6% from the March 15th total of 5,113,900 shares. Approximately 4.3% of the company's shares are sold short. Based on an average daily volume of 1,594,656 shares, the days-to-cover ratio is currently 4.3 days.

Hedge Funds Weigh In On Public Storage

Large investors have recently bought and sold shares of the business. First Pacific Financial purchased a new position in shares of Public Storage during the third quarter worth approximately $26,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Public Storage during the third quarter worth approximately $27,000. Asset Dedication LLC increased its position in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 50 shares during the period. Bayban purchased a new position in shares of Public Storage during the fourth quarter worth approximately $26,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Public Storage during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSA. William Blair set a $305.00 target price on Public Storage in a report on Monday, March 16th. Bank of America cut Public Storage from a "buy" rating to a "neutral" rating and set a $310.00 target price for the company. in a report on Thursday, February 5th. Jefferies Financial Group dropped their target price on Public Storage from $345.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday. Truist Financial lifted their target price on Public Storage from $315.00 to $317.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft cut Public Storage from a "buy" rating to a "hold" rating and set a $285.00 target price for the company. in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $308.22.

Public Storage Trading Up 2.6%

PSA traded up $7.77 during trading hours on Friday, reaching $309.51. 987,481 shares of the company's stock traded hands, compared to its average volume of 1,227,690. The firm has a 50-day moving average price of $291.70 and a 200 day moving average price of $283.68. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $54.32 billion, a PE ratio of 34.31, a PEG ratio of 4.02 and a beta of 1.02.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a dividend of $3.00 per share. The ex-dividend date was Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. Public Storage's payout ratio is presently 133.04%.

Public Storage Company Profile

Public Storage NYSE: PSA is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company's core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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