Boothbay Fund Management LLC Acquires 16,662 Shares of Public Storage (NYSE:PSA)

Boothbay Fund Management LLC grew its holdings in Public Storage (NYSE:PSA) by 871.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,573 shares of the real estate investment trust’s stock after buying an additional 16,662 shares during the quarter. Boothbay Fund Management LLC’s holdings in Public Storage were worth $5,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PSA. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Public Storage during the fourth quarter worth $17,321,000. Virtus ETF Advisers LLC boosted its stake in Public Storage by 11.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 3,910 shares of the real estate investment trust’s stock worth $1,171,000 after purchasing an additional 406 shares during the period. Coldstream Capital Management Inc. grew its holdings in Public Storage by 3.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,052 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 59 shares in the last quarter. Nebula Research & Development LLC grew its holdings in Public Storage by 29.9% during the 4th quarter. Nebula Research & Development LLC now owns 1,359 shares of the real estate investment trust’s stock valued at $407,000 after buying an additional 313 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of Public Storage by 4.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,361 shares of the real estate investment trust’s stock valued at $1,306,000 after acquiring an additional 186 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Royal Bank of Canada lowered their price objective 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. Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price objective for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th. Mizuho started coverage on Public Storage in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 target price on the stock. Finally, Barclays reiterated an “overweight” rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.25.

Public Storage Trading Down 1.0 %

PSA stock opened at $290.85 on Friday. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market capitalization of $51.02 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The company’s 50 day moving average price is $295.33 and its two-hundred day moving average price is $309.66. 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 Announces Dividend

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

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.