Skandinaviska Enskilda Banken AB publ Has $35.83 Million Stock Holdings in Public Storage (NYSE:PSA)

Skandinaviska Enskilda Banken AB publ boosted its position in Public Storage (NYSE:PSA) by 56.1% in the 4th quarter, HoldingsChannel reports. The firm owned 121,137 shares of the real estate investment trust’s stock after acquiring an additional 43,529 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Public Storage were worth $35,834,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Quent Capital LLC lifted its stake in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage in the 4th quarter valued at about $38,000. Finally, Toth Financial Advisory Corp lifted its stake in Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Barclays reiterated an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Scotiabank cut their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.69.

Public Storage Stock Down 3.6 %

Shares of PSA opened at $292.66 on Friday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The firm’s 50 day moving average is $299.84 and its 200-day moving average is $324.01. The stock has a market capitalization of $51.34 billion, a PE ratio of 30.39, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.10%. Public Storage’s dividend payout ratio is presently 112.89%.

About Public Storage

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.