Versor Investments LP Has $1.64 Million Holdings in Public Storage (NYSE:PSA)

Versor Investments LP reduced its stake in shares of Public Storage (NYSE:PSA - Free Report) by 50.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,510 shares of the real estate investment trust's stock after selling 4,616 shares during the quarter. Versor Investments LP's holdings in Public Storage were worth $1,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSA. OFI Invest Asset Management bought a new position in Public Storage during the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the second quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the third quarter valued at approximately $38,000. Crewe Advisors LLC acquired a new position in shares of Public Storage in the 1st quarter worth approximately $39,000. Finally, EdgeRock Capital LLC bought a new stake in Public Storage during the 2nd quarter worth approximately $39,000. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Scotiabank lifted their price objective on Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research report on Thursday, August 22nd. Jefferies Financial Group lifted their price target on Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Morgan Stanley increased their price objective 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. Wolfe Research raised shares of Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $339.71.

Public Storage Trading Down 0.7 %

NYSE PSA traded down $2.52 on Monday, reaching $336.90. The company had a trading volume of 745,051 shares, compared to its average volume of 716,757. Public Storage has a 52 week low of $241.60 and a 52 week high of $369.99. The stock's 50 day moving average is $346.94 and its 200-day moving average is $312.04. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $58.99 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.78 and a beta of 0.70.

Public Storage Dividend Announcement

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 paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.56%. The ex-dividend date is Friday, December 13th. Public Storage's payout ratio is 124.61%.

Public Storage Company 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.