D. E. Shaw & Co. Inc. Has $7.52 Million Stock Position in Public Storage (NYSE:PSA)

D. E. Shaw & Co. Inc. lifted its position in shares of Public Storage (NYSE:PSA) by 249.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 25,105 shares of the real estate investment trust’s stock after acquiring an additional 17,923 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Public Storage were worth $7,517,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Deutsche Bank AG raised its holdings in Public Storage by 44.6% in the 4th quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust’s stock valued at $421,538,000 after buying an additional 433,918 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Public Storage by 5.8% during the 4th quarter. EP Wealth Advisors LLC now owns 3,248 shares of the real estate investment trust’s stock valued at $973,000 after acquiring an additional 177 shares in the last quarter. Colonial Trust Co SC lifted its stake in Public Storage by 8.5% during the 4th quarter. Colonial Trust Co SC now owns 6,336 shares of the real estate investment trust’s stock valued at $1,897,000 after acquiring an additional 494 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of Public Storage by 200.9% during the 4th quarter. Cresset Asset Management LLC now owns 2,392 shares of the real estate investment trust’s stock worth $716,000 after purchasing an additional 1,597 shares during the period. Finally, Cetera Investment Advisers raised its stake in Public Storage by 4.6% in the 4th quarter. Cetera Investment Advisers now owns 46,601 shares of the real estate investment trust’s stock valued at $13,954,000 after acquiring an additional 2,070 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 2.3%

Shares of PSA stock opened at $304.99 on Friday. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The firm has a market capitalization of $53.50 billion, a P/E ratio of 31.67, a PEG ratio of 4.91 and a beta of 0.91. The stock’s fifty day moving average is $293.44 and its two-hundred day moving average is $305.93. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $4.03 EPS. Research analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, June 12th. Public Storage’s payout ratio is 119.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Mizuho started coverage on Public Storage in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price objective for the company. Royal Bank of Canada decreased their target price on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Scotiabank upped their target price on Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday. Finally, Evercore ISI upped their price target on Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd. Five 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $337.67.

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.