Public Storage (NYSE:PSA) Shares Acquired by Walleye Capital LLC

Walleye Capital LLC boosted its stake in Public Storage (NYSE:PSA - Free Report) by 260.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,592 shares of the real estate investment trust's stock after buying an additional 1,873 shares during the period. Walleye Capital LLC's holdings in Public Storage were worth $776,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Quent Capital LLC grew its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Public Storage during the fourth quarter worth about $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $38,000. Toth Financial Advisory Corp raised its holdings in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after acquiring an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in Public Storage by 24.6% in the third quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

PSA stock traded down $2.94 on Friday, hitting $290.85. The company's stock had a trading volume of 909,822 shares, compared to its average volume of 737,377. The stock has a market cap of $51.02 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The firm has a 50 day moving average of $295.45 and a two-hundred day moving average of $310.32. 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 has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage's payout ratio is 112.89%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSA. Royal Bank of Canada dropped their price objective on shares of 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. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a report on Thursday, April 10th. Mizuho initiated coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and boosted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Bank of America upgraded shares of Public Storage from a "neutral" rating to a "buy" rating and increased their price target for the company from $349.00 to $368.00 in a research note on Tuesday. Five investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $336.25.

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.