Tudor Investment Corp ET AL Cuts Stake in Public Storage (NYSE:PSA)

Tudor Investment Corp ET AL cut its stake in Public Storage (NYSE:PSA - Free Report) by 60.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,675 shares of the real estate investment trust's stock after selling 35,042 shares during the quarter. Tudor Investment Corp ET AL's holdings in Public Storage were worth $6,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PSA. Quent Capital LLC grew its position 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 valued at $26,000 after acquiring an additional 50 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Public Storage during the fourth quarter valued at $32,000. Synergy Asset Management LLC purchased a new stake in Public Storage in the fourth quarter worth $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the fourth quarter valued at $38,000. Finally, Bridge Generations Wealth Management LLC purchased a new position in shares of Public Storage during the 4th quarter valued at $56,000. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Royal Bank of Canada reduced their target price on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday. Evercore ISI increased their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday. Finally, Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $349.00 to $368.00 in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Storage has an average rating of "Moderate Buy" and an average price target of $333.75.

Public Storage Price Performance

Public Storage stock traded up $0.14 during mid-day trading on Friday, hitting $300.14. The stock had a trading volume of 1,290,514 shares, compared to its average volume of 739,037. Public Storage has a one year low of $256.60 and a one year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $52.65 billion, a P/E ratio of 31.17, a P/E/G ratio of 4.91 and a beta of 0.76. The firm's 50 day moving average is $294.73 and its 200 day moving average is $308.03.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $4.03 earnings per share. The business's quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio is currently 119.17%.

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.