Walleye Capital LLC Raises Stake in Public Storage (NYSE:PSA)

Walleye Capital LLC increased its position in Public Storage (NYSE:PSA - Free Report) by 260.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,592 shares of the real estate investment trust's stock after purchasing an additional 1,873 shares during the period. Walleye Capital LLC's holdings in Public Storage were worth $776,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Public Storage during the 4th quarter valued at approximately $931,286,000. Cohen & Steers Inc. increased its holdings in shares of Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after purchasing an additional 592,944 shares during the period. Amundi raised its stake in shares of Public Storage by 54.0% during the fourth quarter. Amundi now owns 779,882 shares of the real estate investment trust's stock worth $230,426,000 after purchasing an additional 273,486 shares during the last quarter. Aew Capital Management L P lifted its holdings in shares of Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock worth $131,574,000 after purchasing an additional 228,740 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in Public Storage in the 4th quarter valued at $66,253,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSA has been the topic of a number of recent analyst reports. Mizuho assumed coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price target on the stock. Wells Fargo & Company cut their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and lifted their price target for the company from $349.00 to $368.00 in a research note on Tuesday, April 22nd. 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 report on Wednesday, March 12th. Finally, Scotiabank upgraded shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their target price for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $336.25.

Public Storage Trading Down 1.0 %

Shares of NYSE:PSA traded down $2.94 during trading on Friday, reaching $290.85. The stock had a trading volume of 909,822 shares, compared to its average volume of 738,577. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $51.02 billion, a P/E ratio of 30.20, a PEG ratio of 4.91 and a beta of 0.76. The business has a fifty day moving average price of $295.33 and a 200-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.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.13%. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

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.