Skandinaviska Enskilda Banken AB publ Increases Stock Position in Public Storage (NYSE:PSA)

Skandinaviska Enskilda Banken AB publ grew its stake in Public Storage (NYSE:PSA - Free Report) by 56.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,137 shares of the real estate investment trust's stock after buying an additional 43,529 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Public Storage worth $35,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC grew 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 worth $26,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Public Storage in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC purchased a new position in Public Storage in the 4th quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp grew 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 worth $61,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.7 %

NYSE PSA traded down $2.14 during trading on Tuesday, hitting $298.27. The company had a trading volume of 510,295 shares, compared to its average volume of 675,974. 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 has a one year low of $256.31 and a one year high of $369.99. The company has a market cap of $52.32 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company's fifty day moving average is $299.89 and its 200-day moving average is $323.18.

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Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.02%. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research reports. Wells Fargo & Company cut their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and upped their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. 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 note on Wednesday, March 5th. Royal Bank of Canada cut their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial cut their price objective on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $337.38.

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.