Public Storage (NYSE:PSA) Upgraded to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage (NYSE:PSA) from a sell rating to a hold rating in a research report report published on Friday, Marketbeat reports. They currently have $299.00 price target on the real estate investment trust’s stock, up from their previous price target of $298.00.

PSA has been the subject of several other reports. Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company decreased their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Morgan Stanley increased their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Barclays dropped their price target on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $345.57.

Public Storage Stock Performance

PSA stock opened at $288.65 on Friday. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 5.29 and a beta of 0.74. 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 firm has a 50-day simple moving average of $321.09 and a two-hundred day simple moving average of $325.15.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.16%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its holdings in Public Storage by 13.4% during the second quarter. Private Advisor Group LLC now owns 5,161 shares of the real estate investment trust’s stock worth $1,485,000 after buying an additional 610 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Public Storage during the 2nd quarter worth about $1,459,000. PFG Investments LLC grew its position in shares of Public Storage by 7.7% during the 2nd quarter. PFG Investments LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 91 shares during the period. Choreo LLC purchased a new position in shares of Public Storage in the 2nd quarter valued at about $476,000. Finally, Achmea Investment Management B.V. raised its holdings in Public Storage by 5.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 39,397 shares of the real estate investment trust’s stock worth $11,333,000 after purchasing an additional 1,896 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

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.