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

Deutsche Bank AG boosted its position in shares of Public Storage (NYSE:PSA - Free Report) by 44.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,407,754 shares of the real estate investment trust's stock after purchasing an additional 433,918 shares during the period. Deutsche Bank AG owned 0.80% of Public Storage worth $421,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PSA. Brooklyn Investment Group boosted its holdings in Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after purchasing an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its position in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after acquiring an additional 38 shares during the last quarter. Lido Advisors LLC lifted its position in Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after acquiring an additional 39 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock worth $366,000 after acquiring an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. lifted its position in Public Storage by 13.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 40 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of PSA traded up $1.15 during trading hours on Monday, hitting $305.22. The stock had a trading volume of 822,589 shares, compared to its average volume of 744,526. The stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 4.91 and a beta of 0.91. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company's fifty day moving average is $294.18 and its two-hundred day moving average is $306.45.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.03 earnings per share. On average, analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be paid 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 3.93%. Public Storage's dividend payout ratio is 119.17%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSA. Mizuho began coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price for the company. Barclays reissued an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Evercore ISI boosted their target price on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Wells Fargo & Company cut their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.67.

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.