Townsquare Capital LLC Has $1.36 Million Stock Holdings in Public Storage (NYSE:PSA)

Townsquare Capital LLC raised its position in Public Storage (NYSE:PSA) by 13.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,535 shares of the real estate investment trust’s stock after buying an additional 554 shares during the period. Townsquare Capital LLC’s holdings in Public Storage were worth $1,358,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC boosted its stake in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of Public Storage in the 4th quarter worth $38,000. Millstone Evans Group LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $38,000. Toth Financial Advisory Corp increased 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 purchasing an additional 66 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in Public Storage in the fourth quarter valued at about $67,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 2.3 %

NYSE PSA opened at $295.75 on Friday. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. 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 stock’s 50 day moving average price is $296.12 and its two-hundred day moving average price is $312.33. The stock has a market capitalization of $51.88 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 4.91 and a beta of 0.76.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

Analyst Ratings Changes

A number of analysts have recently commented on PSA shares. Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th. Wells Fargo & Company cut their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Mizuho began coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price target on the stock. Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Finally, Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average target price of $332.08.

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.