DekaBank Deutsche Girozentrale Sells 6,765 Shares of Public Storage $PSA

DekaBank Deutsche Girozentrale cut its stake in Public Storage (NYSE:PSA) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,404 shares of the real estate investment trust’s stock after selling 6,765 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Public Storage were worth $36,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. raised its position in shares of Public Storage by 1.6% during the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 33 shares during the last quarter. Whitener Capital Management Inc. increased its position in Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 36 shares during the period. Rosenberg Matthew Hamilton raised its holdings in Public Storage by 9.5% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 36 shares during the last quarter. Mather Group LLC. lifted its position in Public Storage by 4.6% during the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 38 shares during the period. Finally, Evermay Wealth Management LLC boosted its stake in shares of Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Down 1.1%

Shares of PSA stock opened at $308.39 on Wednesday. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a fifty day moving average of $290.96 and a 200-day moving average of $292.02. The company has a market capitalization of $54.11 billion, a price-to-earnings ratio of 33.63, a P/E/G ratio of 5.09 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio is presently 130.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Barclays reduced their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, UBS Group decreased their price objective on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $324.92.

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.