Public Storage (NYSE:PSA) Shares Bought by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd increased its holdings in Public Storage (NYSE:PSA) by 245.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,850 shares of the real estate investment trust’s stock after purchasing an additional 1,315 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Public Storage were worth $554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new stake in Public Storage during the third quarter worth about $262,000. IHT Wealth Management LLC increased its holdings in shares of Public Storage by 40.7% in the 3rd quarter. IHT Wealth Management LLC now owns 1,262 shares of the real estate investment trust’s stock valued at $458,000 after acquiring an additional 365 shares during the last quarter. Quantinno Capital Management LP raised its stake in Public Storage by 16.2% during the third quarter. Quantinno Capital Management LP now owns 11,390 shares of the real estate investment trust’s stock worth $4,145,000 after acquiring an additional 1,590 shares during the period. Stifel Financial Corp lifted its stake in Public Storage by 4.9% in the third quarter. Stifel Financial Corp now owns 69,856 shares of the real estate investment trust’s stock valued at $25,422,000 after buying an additional 3,241 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in shares of Public Storage by 5.9% during the third quarter. Insigneo Advisory Services LLC now owns 823 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of Public Storage stock opened at $284.00 on Monday. 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 firm’s 50-day simple moving average is $300.05 and its 200-day simple moving average is $317.46. The firm has a market cap of $49.82 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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 4.23%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada dropped their target price on 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 reduced their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Barclays reaffirmed an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $338.73.

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.