Deutsche Bank AG Purchases 433,918 Shares of Public Storage (NYSE:PSA)

Deutsche Bank AG lifted its holdings in Public Storage (NYSE:PSA) by 44.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,407,754 shares of the real estate investment trust’s stock after acquiring an additional 433,918 shares during the period. Deutsche Bank AG owned approximately 0.80% of Public Storage worth $421,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quent Capital LLC increased its holdings in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $32,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the 4th quarter valued at $38,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Public Storage during the 4th quarter valued at $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Barclays reaffirmed an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Mizuho began coverage on Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price target on the stock. Evercore ISI raised their price objective on Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada lowered their target price on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $333.75.

Public Storage Trading Up 0.2 %

Shares of PSA stock opened at $300.58 on Friday. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a 50-day simple moving average of $294.22 and a two-hundred day simple moving average of $307.11. 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 company has a market capitalization of $52.73 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. The company 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%. Public Storage’s revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $4.03 earnings per share. Research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 3.99%. Public Storage’s payout ratio is currently 119.17%.

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.