Public Storage $PSA Shares Acquired by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Public Storage (NYSE:PSA) by 26.9% in Q2, bringing its total ownership to 6,637 shares valued at approximately $1.95 million.
• Public Storage reported a net margin of 38.13% and a return on equity of 34.06%, with earnings per share (EPS) of $4.28, beating analysts' estimates.
• Analysts have a consensus rating of "Moderate Buy" for Public Storage, with a target price of $322.92, indicating potential upside for investors.

Commerzbank Aktiengesellschaft FI grew its stake in Public Storage (NYSE:PSA - Free Report) by 26.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,637 shares of the real estate investment trust's stock after buying an additional 1,408 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Public Storage were worth $1,948,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PSA. Wealth Enhancement Advisory Services LLC boosted its stake in Public Storage by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock worth $13,240,000 after purchasing an additional 4,746 shares during the period. Brighton Jones LLC boosted its stake in Public Storage by 9.7% during the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock worth $517,000 after purchasing an additional 152 shares during the period. Asset Management One Co. Ltd. boosted its stake in Public Storage by 1.2% during the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock worth $92,960,000 after purchasing an additional 3,627 shares during the period. Private Trust Co. NA boosted its stake in Public Storage by 228.1% during the 1st quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock worth $640,000 after purchasing an additional 1,487 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in Public Storage by 43.3% during the 1st quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock worth $1,083,000 after purchasing an additional 1,093 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA opened at $294.19 on Friday. The company has a 50-day simple moving average of $287.61 and a 200-day simple moving average of $291.49. 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 company has a market capitalization of $51.62 billion, a PE ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87.

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

Public Storage Announces Dividend

The business also recently declared 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 4.1%. The ex-dividend date was Monday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PSA shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Public Storage in a research note on Wednesday. Scotiabank reduced their target price on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 28th. Evercore ISI raised their target price on shares of Public Storage from $312.00 to $317.00 and gave the stock a "cautious" rating in a research note on Friday, October 3rd. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Public Storage from $324.00 to $321.00 and set an "overweight" rating for the company in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $322.92.

Public Storage 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.