Public Storage (NYSE:PSA) Holdings Lifted by Capital Fund Management S.A.

Capital Fund Management S.A. grew its holdings in Public Storage (NYSE:PSA - Free Report) by 243.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 86,604 shares of the real estate investment trust's stock after purchasing an additional 61,413 shares during the quarter. Capital Fund Management S.A.'s holdings in Public Storage were worth $25,933,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Public Storage by 5.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust's stock valued at $16,089,000 after buying an additional 2,566 shares during the last quarter. Capital Investment Advisors LLC grew its position in Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust's stock valued at $8,566,000 after acquiring an additional 5,793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Public Storage by 30.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock worth $40,926,000 after buying an additional 31,662 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Public Storage in the 4th quarter valued at approximately $395,000. Finally, Aew Capital Management L P increased its stake in shares of Public Storage by 108.6% in the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust's stock valued at $131,574,000 after buying an additional 228,740 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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Public Storage Stock Up 0.7 %

NYSE:PSA traded up $2.11 during trading hours on Wednesday, hitting $291.02. The company's stock had a trading volume of 156,915 shares, compared to its average volume of 732,799. The stock has a market capitalization of $51.05 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The stock has a fifty day moving average of $296.53 and a 200-day moving average of $312.97. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The company also recently disclosed 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. This represents a $12.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Thursday, March 13th. Public Storage's payout ratio is 112.89%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PSA shares. Royal Bank of Canada lowered their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Scotiabank upgraded Public Storage from a "sector perform" rating to a "sector outperform" rating and cut their price target for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Finally, Mizuho began coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target on the stock. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $332.08.

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.