Public Storage (NYSE:PSA) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC lifted its position in Public Storage (NYSE:PSA - Free Report) by 30.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,386 shares of the real estate investment trust's stock after purchasing an additional 2,646 shares during the quarter. Tidal Investments LLC's holdings in Public Storage were worth $4,143,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Public Storage by 0.5% during the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock worth $3,773,571,000 after acquiring an additional 55,123 shares during the last quarter. FMR LLC lifted its position in 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 worth $1,828,763,000 after purchasing an additional 869,066 shares during the period. Geode Capital Management LLC lifted its position in Public Storage by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust's stock worth $1,425,941,000 after purchasing an additional 52,807 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock valued at $1,023,080,000 after buying an additional 54,992 shares in the last quarter. Finally, APG Asset Management US Inc. raised its stake in Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust's stock valued at $623,485,000 after purchasing an additional 100,000 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Down 0.1 %

Shares of PSA traded down $0.17 during mid-day trading on Friday, reaching $317.62. The company's stock had a trading volume of 566,822 shares, compared to its average volume of 638,182. The company's fifty day moving average price is $337.34 and its two-hundred day moving average price is $322.80. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. 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 stock has a market cap of $55.62 billion, a PE ratio of 32.98, a P/E/G ratio of 5.29 and a beta of 0.71.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is 124.61%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PSA shares. Barclays decreased their price target on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Wolfe Research raised shares of Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley increased their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $342.07.

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.