Marshall Wace LLP Raises Stock Holdings in Public Storage (NYSE:PSA)

Marshall Wace LLP increased its position in Public Storage (NYSE:PSA - Free Report) by 300.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,936 shares of the real estate investment trust's stock after buying an additional 29,958 shares during the quarter. Marshall Wace LLP's holdings in Public Storage were worth $11,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC lifted its holdings in shares of Public Storage by 135.1% in the 4th 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 during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the fourth quarter worth $38,000. Millstone Evans Group LLC bought a new stake in Public Storage during the 4th quarter valued at $38,000. Toth Financial Advisory Corp boosted its position in Public Storage by 48.2% during the 4th 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, Parkworth Wealth Management Inc. bought a new stake in Public Storage in the 4th quarter worth $67,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and lowered their price objective for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays reaffirmed an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada cut their price objective 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $336.25.

Public Storage Stock Performance

Shares of NYSE:PSA traded down $2.94 during midday trading on Friday, reaching $290.85. 909,822 shares of the company's stock traded hands, compared to its average volume of 737,377. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $51.02 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 4.91 and a beta of 0.76. The stock has a 50 day moving average of $295.45 and a 200 day moving average of $310.32. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's 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.