DekaBank Deutsche Girozentrale Cuts Position in Public Storage (NYSE:PSA)

DekaBank Deutsche Girozentrale decreased its position in Public Storage (NYSE:PSA) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 88,923 shares of the real estate investment trust’s stock after selling 1,615 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.05% of Public Storage worth $20,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ellevest Inc. raised its position in Public Storage by 80.0% in the fourth quarter. Ellevest Inc. now owns 108 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 48 shares during the period. Texas Yale Capital Corp. raised its position in Public Storage by 0.8% in the fourth quarter. Texas Yale Capital Corp. now owns 6,657 shares of the real estate investment trust’s stock valued at $1,537,000 after purchasing an additional 56 shares during the period. BKD Wealth Advisors LLC raised its position in Public Storage by 2.2% in the fourth quarter. BKD Wealth Advisors LLC now owns 2,976 shares of the real estate investment trust’s stock valued at $687,000 after purchasing an additional 64 shares during the period. Ritholtz Wealth Management raised its position in Public Storage by 7.3% in the fourth quarter. Ritholtz Wealth Management now owns 1,144 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 78 shares during the period. Finally, Miracle Mile Advisors LLC grew its stake in shares of Public Storage by 1.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 5,001 shares of the real estate investment trust’s stock worth $1,155,000 after acquiring an additional 78 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Shares of PSA stock opened at $255.72 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average price of $240.38 and a 200 day moving average price of $230.68. The company has a market cap of $44.73 billion, a P/E ratio of 39.46, a PEG ratio of 7.00 and a beta of 0.07. Public Storage has a 12 month low of $172.11 and a 12 month high of $256.33.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, February 24th. The real estate investment trust reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.27). Public Storage had a return on equity of 26.59% and a net margin of 43.37%. During the same quarter last year, the company posted $1.87 EPS. On average, equities analysts forecast that Public Storage will post 10.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 16th were paid a $2.00 dividend. The ex-dividend date was Monday, March 15th. This represents a $8.00 annualized dividend and a yield of 3.13%. Public Storage’s dividend payout ratio is presently 74.42%.

Several research firms have commented on PSA. Morgan Stanley boosted their price target on shares of Public Storage from $221.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 18th. BMO Capital Markets upgraded shares of Public Storage from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $220.00 to $240.00 in a research note on Thursday, January 28th. Truist boosted their price target on shares of Public Storage from $245.00 to $262.00 in a research note on Friday, March 5th. Finally, Raymond James upgraded shares of Public Storage from an “underperform” rating to a “market perform” rating in a research note on Thursday, February 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $223.00.

Public Storage Profile

Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.

Read More: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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