Public Storage (NYSE:PSA) Shares Acquired by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 245.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,850 shares of the real estate investment trust's stock after buying an additional 1,315 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in Public Storage were worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Walleye Capital LLC bought a new position in shares of Public Storage in the 3rd quarter worth approximately $262,000. IHT Wealth Management LLC boosted its stake in shares of Public Storage by 40.7% during the 3rd quarter. IHT Wealth Management LLC now owns 1,262 shares of the real estate investment trust's stock worth $458,000 after acquiring an additional 365 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Public Storage by 16.2% during the 3rd quarter. Quantinno Capital Management LP now owns 11,390 shares of the real estate investment trust's stock valued at $4,145,000 after acquiring an additional 1,590 shares during the period. Stifel Financial Corp increased its stake in shares of Public Storage by 4.9% in the 3rd quarter. Stifel Financial Corp now owns 69,856 shares of the real estate investment trust's stock worth $25,422,000 after purchasing an additional 3,241 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Public Storage by 5.9% during the third quarter. Insigneo Advisory Services LLC now owns 823 shares of the real estate investment trust's stock valued at $299,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the stock from $333.00 to $305.00 in a research note on Wednesday. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a research note on Thursday. Royal Bank of Canada lowered 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. Mizuho initiated coverage on shares of Public Storage in a report on Wednesday. They issued a "neutral" rating and a $287.00 price target on the stock. Finally, Barclays reiterated an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $332.08.

Public Storage Stock Up 0.7 %

NYSE:PSA traded up $1.88 during mid-day trading on Friday, reaching $279.95. The company's stock had a trading volume of 1,035,590 shares, compared to its average volume of 733,388. 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 market capitalization of $49.11 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The stock has a fifty day moving average of $297.08 and a 200-day moving average of $313.91. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.29%. Public Storage's dividend payout ratio (DPR) is 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.