Skandinaviska Enskilda Banken AB publ Buys 2,248 Shares of Public Storage (NYSE:PSA)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Public Storage (NYSE:PSA) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,085 shares of the real estate investment trust’s stock after purchasing an additional 2,248 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Public Storage were worth $9,517,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PSA. Gryphon Financial Partners LLC grew its stake in Public Storage by 2.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 38 shares in the last quarter. Signet Financial Management LLC lifted its holdings in shares of Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 39 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Public Storage by 0.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 39 shares in the last quarter. Brookstone Capital Management increased its stake in Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after acquiring an additional 40 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its position in Public Storage by 3.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of a number of research analyst reports. Evercore ISI raised their target price on Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Royal Bank of Canada began coverage on Public Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price on the stock. Citigroup increased their target price on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average price target of $339.08.

Public Storage Trading Up 0.9 %

NYSE PSA opened at $361.72 on Friday. Public Storage has a 12 month low of $233.18 and a 12 month high of $366.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $63.56 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 5.12 and a beta of 0.67. The business’s 50-day moving average price is $326.92 and its two-hundred day moving average price is $295.74.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company posted $4.28 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, analysts expect that Public Storage will post 16.73 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, September 13th. Public Storage’s payout ratio is 108.99%.

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.