B. Metzler seel. Sohn & Co. Holding AG Takes $1.42 Million Position in Public Storage (NYSE:PSA)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Public Storage (NYSE:PSA) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 3,888 shares of the real estate investment trust’s stock, valued at approximately $1,415,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Wealth Advisors LLC grew its position in shares of Public Storage by 5.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,392 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 66 shares during the last quarter. Chesapeake Wealth Management increased its position in Public Storage by 2.2% during the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 33 shares in the last quarter. Caprock Group LLC lifted its holdings in Public Storage by 52.0% in the 3rd quarter. Caprock Group LLC now owns 3,056 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 1,046 shares in the last quarter. Lindenwold Advisors INC lifted its stake in shares of Public Storage by 0.8% during the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust’s stock valued at $1,597,000 after buying an additional 34 shares during the period. Finally, Aviance Capital Partners LLC acquired a new stake in Public Storage during the third quarter worth approximately $222,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research note on Thursday, August 1st. Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Scotiabank raised their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Stock Up 0.5 %

Shares of NYSE PSA opened at $337.62 on Friday. The firm has a market cap of $59.12 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 5.56 and a beta of 0.70. Public Storage has a 1 year low of $251.49 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50-day simple moving average is $343.82 and its 200-day simple moving average is $316.39.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is currently 124.61%.

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.