Verition Fund Management LLC Has $7.33 Million Stock Holdings in Public Storage (NYSE:PSA)

Verition Fund Management LLC lowered its position in Public Storage (NYSE:PSA - Free Report) by 32.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,135 shares of the real estate investment trust's stock after selling 9,593 shares during the quarter. Verition Fund Management LLC's holdings in Public Storage were worth $7,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock worth $561,763,000 after purchasing an additional 1,358,493 shares during the period. FMR LLC lifted its position in shares of Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Public Storage by 57.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock worth $405,278,000 after acquiring an additional 405,847 shares during the period. AQR Capital Management LLC increased its holdings in shares of Public Storage by 116.7% during the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust's stock worth $111,077,000 after acquiring an additional 208,546 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Public Storage by 1,980.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 144,185 shares of the real estate investment trust's stock valued at $41,475,000 after acquiring an additional 137,256 shares during the period. Institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Shares of NYSE PSA traded down $4.06 during trading hours on Monday, hitting $343.99. 709,941 shares of the stock were exchanged, compared to its average volume of 714,839. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap of $60.24 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 5.79 and a beta of 0.70. 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's fifty day simple moving average is $342.76 and its two-hundred day simple moving average is $319.51.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.49%. Public Storage's dividend payout ratio (DPR) is currently 124.61%.

Analyst Ratings Changes

Several equities analysts have commented on PSA shares. Wolfe Research upgraded shares of Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th. Morgan Stanley increased their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Citigroup raised their price objective on shares of Public Storage from $303.00 to $378.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Finally, Scotiabank increased their target price on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $339.64.

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.