57,845 Shares in Public Storage (NYSE:PSA) Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 57,845 shares of the real estate investment trust's stock, valued at approximately $17,321,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Virtus ETF Advisers LLC lifted its position in shares of Public Storage by 11.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,910 shares of the real estate investment trust's stock valued at $1,171,000 after acquiring an additional 406 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Public Storage by 3.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,052 shares of the real estate investment trust's stock valued at $615,000 after acquiring an additional 59 shares during the period. Nebula Research & Development LLC lifted its position in shares of Public Storage by 29.9% during the 4th quarter. Nebula Research & Development LLC now owns 1,359 shares of the real estate investment trust's stock valued at $407,000 after acquiring an additional 313 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Public Storage by 4.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 4,361 shares of the real estate investment trust's stock worth $1,306,000 after purchasing an additional 186 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Public Storage by 6.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 13,608 shares of the real estate investment trust's stock worth $4,075,000 after purchasing an additional 881 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSA. Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Barclays reissued an "overweight" rating and issued a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Royal Bank of Canada reduced their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Scotiabank upgraded shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their target price for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Five investment 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 stock. According to MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and an average price target of $336.25.

Public Storage Trading Up 0.4 %

Shares of PSA stock traded up $1.26 during trading hours on Tuesday, hitting $293.37. 621,322 shares of the company were exchanged, compared to its average volume of 738,098. The firm has a market cap of $51.46 billion, a PE ratio of 30.46, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. 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 firm has a fifty day moving average of $295.22 and a 200 day moving average of $309.08.

Public Storage Announces Dividend

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 dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.09%. Public Storage's payout ratio is currently 112.89%.

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.