Boothbay Fund Management LLC Purchases 16,662 Shares of Public Storage (NYSE:PSA)

Boothbay Fund Management LLC boosted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 871.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,573 shares of the real estate investment trust's stock after acquiring an additional 16,662 shares during the quarter. Boothbay Fund Management LLC's holdings in Public Storage were worth $5,561,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSA. Doliver Advisors LP boosted its stake in shares of Public Storage by 2.6% in the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after purchasing an additional 36 shares during the last quarter. Brooklyn Investment Group raised its holdings in Public Storage by 3.4% during the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after buying an additional 38 shares during the last quarter. Werba Rubin Papier Wealth Management raised its holdings in Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after buying an additional 38 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in Public Storage by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock worth $366,000 after buying an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. raised its holdings in shares of Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 40 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSA. Wells Fargo & Company decreased their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price target for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Barclays reaffirmed an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and raised their price target for the company from $349.00 to $368.00 in a research report on Tuesday, April 22nd. Finally, Mizuho assumed coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.25.

Public Storage Stock Up 0.4 %

Public Storage stock traded up $1.26 during trading hours on Tuesday, hitting $293.37. 621,322 shares of the stock traded hands, compared to its average volume of 738,098. The firm's 50-day moving average price is $295.02 and its two-hundred day moving average price is $308.97. 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 company 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 one year low of $256.31 and a one year high of $369.99.

Public Storage Announces Dividend

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

Public Storage 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.