Farringdon Capital Ltd. Purchases New Shares in Public Storage (NYSE:PSA)

Farringdon Capital Ltd. bought a new position in Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,056 shares of the real estate investment trust's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC raised its holdings in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter valued at $38,000. Millstone Evans Group LLC acquired a new position in shares of Public Storage during the 4th quarter worth about $38,000. Toth Financial Advisory Corp raised its stake in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 66 shares during the period. Finally, McIlrath & Eck LLC raised its stake in Public Storage by 24.6% in the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on PSA shares. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their price objective for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Barclays reissued an "overweight" rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $349.00 to $368.00 in a research note on Tuesday. Mizuho assumed coverage on shares of Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective for the company. Finally, Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Five research 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $336.25.

Public Storage Stock Up 0.4 %

Shares of Public Storage stock traded up $1.16 during trading hours on Thursday, reaching $296.39. The company's stock had a trading volume of 173,912 shares, compared to its average volume of 774,206. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market capitalization of $51.99 billion, a P/E ratio of 30.78, a P/E/G ratio of 4.91 and a beta of 0.76. The stock's fifty day simple moving average is $295.53 and its two-hundred day simple moving average is $310.69. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is 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.