Walleye Capital LLC Acquires New Holdings in Public Storage (NYSE:PSA)

Walleye Capital LLC acquired a new position in Public Storage (NYSE:PSA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 719 shares of the real estate investment trust’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in shares of Public Storage during the 2nd quarter worth about $32,000. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the 3rd quarter valued at $38,000. EdgeRock Capital LLC bought a new position in Public Storage during the 2nd quarter worth $39,000. Finally, Compagnie Lombard Odier SCmA bought a new position in Public Storage during the 3rd quarter worth $50,000. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSA has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Citigroup lifted their price target on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company cut their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus target price of $342.07.

Public Storage Stock Down 2.3 %

PSA stock opened at $327.97 on Wednesday. The company has a market cap of $57.43 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 5.56 and a beta of 0.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 3.66%. Public Storage’s payout ratio is 124.61%.

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.