Walleye Capital LLC Acquires Shares of 719 Public Storage (NYSE:PSA)

Walleye Capital LLC purchased a new position in shares of Public Storage (NYSE:PSA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 719 shares of the real estate investment trust’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its holdings in shares of Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Public Storage by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after buying an additional 54,992 shares during the last quarter. APG Asset Management US Inc. increased its holdings in shares of 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 worth $623,485,000 after buying an additional 100,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Public Storage by 732.9% during the 3rd 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 buying an additional 1,358,493 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Public Storage by 8.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after buying an additional 95,080 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSA. Citigroup raised their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lowered their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays lowered their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Scotiabank increased their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. One 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $342.07.

Public Storage Stock Performance

Shares of PSA stock opened at $327.97 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market capitalization of $57.43 billion, a PE ratio of 34.06, a P/E/G ratio of 5.56 and a beta of 0.71. The firm has a 50 day moving average of $339.82 and a two-hundred day moving average of $321.73.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.66%. 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.