Universal Beteiligungs und Servicegesellschaft mbH Makes New $99.16 Million Investment in Public Storage (NYSE:PSA)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 331,140 shares of the real estate investment trust’s stock, valued at approximately $99,157,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.19% of Public Storage as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of PSA. Barclays PLC lifted its position in Public Storage by 2.9% in the 3rd quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust’s stock valued at $169,433,000 after acquiring an additional 13,065 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of Public Storage by 8.4% during the fourth quarter. Atomi Financial Group Inc. now owns 890 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 69 shares during the period. SG Americas Securities LLC boosted its position in shares of Public Storage by 160.3% during the fourth quarter. SG Americas Securities LLC now owns 3,998 shares of the real estate investment trust’s stock worth $1,197,000 after buying an additional 10,623 shares during the period. CX Institutional raised its position in Public Storage by 60.3% in the 4th quarter. CX Institutional now owns 1,266 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 476 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in Public Storage by 22.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,004 shares of the real estate investment trust’s stock valued at $600,000 after acquiring an additional 374 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

Public Storage stock opened at $296.74 on Tuesday. The company has a market capitalization of $52.06 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 4.91 and a beta of 0.91. 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 $256.60 and a 12 month high of $369.99. The stock’s 50 day moving average is $293.73 and its 200-day moving average is $304.06.

Public Storage (NYSE:PSA) last issued its quarterly earnings data 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. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the firm posted $4.03 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm 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. This represents a $12.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage’s dividend payout ratio is 119.17%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PSA shares. Evercore ISI lifted their price objective on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Mizuho began coverage on Public Storage in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price target for the company. Royal Bank of Canada dropped their price objective on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Bank of America raised their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Scotiabank upped their price objective on Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $337.42.

About Public Storage

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.