Tower Research Capital LLC TRC Has $1.94 Million Stock Position in Public Storage (NYSE:PSA)

Tower Research Capital LLC TRC lowered its position in Public Storage (NYSE:PSA - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,484 shares of the real estate investment trust's stock after selling 2,899 shares during the quarter. Tower Research Capital LLC TRC's holdings in Public Storage were worth $1,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Quent Capital LLC raised its position in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage during the fourth quarter worth about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth about $38,000. Millstone Evans Group LLC purchased a new position in shares of Public Storage during the fourth quarter worth about $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in Public Storage during the 4th quarter valued at approximately $56,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Public Storage stock traded up $1.19 during midday trading on Monday, reaching $292.10. 115,548 shares of the stock traded hands, compared to its average volume of 773,931. The firm has a fifty day moving average price of $295.33 and a two-hundred day moving average price of $309.44. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm has a market cap of $51.24 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 4.91 and a beta of 0.76. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSA. Bank of America raised Public Storage from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Scotiabank upgraded Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th. Royal Bank of Canada cut their price objective on Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research note on Thursday, April 10th. Finally, Barclays reiterated an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.