Susquehanna Fundamental Investments LLC Buys New Shares in Public Storage (NYSE:PSA)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,845 shares of the real estate investment trust’s stock, valued at approximately $17,321,000.

A number of other hedge funds also recently bought and sold shares of PSA. Quent Capital LLC increased its stake in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage in the 4th quarter valued at $32,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage during the 4th quarter worth $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage during the 4th quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC acquired a new position in shares of Public Storage during the fourth quarter worth $56,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Mizuho assumed coverage on Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 target price for the company. 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. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $336.25.

Public Storage Stock Down 1.0 %

Shares of NYSE:PSA opened at $290.85 on Friday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $51.02 billion, a P/E ratio of 30.20, a P/E/G ratio of 4.91 and a beta of 0.76. The firm has a fifty day moving average price of $295.33 and a 200 day moving average price of $309.93.

Public Storage Announces Dividend

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

About Public Storage

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.