Commerzbank Aktiengesellschaft FI Sells 2,661 Shares of Public Storage $PSA

Commerzbank Aktiengesellschaft FI decreased its position in Public Storage (NYSE:PSA) by 40.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,976 shares of the real estate investment trust’s stock after selling 2,661 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Public Storage were worth $1,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSA. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares during the period. Norges Bank purchased a new position in Public Storage during the 4th quarter valued at about $1,163,751,000. Capital International Investors raised its position in Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after buying an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. grew its position in shares of Public Storage by 9.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after buying an additional 339,882 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Truist Financial lifted their price target on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Jefferies Financial Group boosted their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada upped their price objective on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $325.37.

Public Storage Stock Performance

Public Storage stock opened at $309.83 on Wednesday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The stock’s 50 day simple moving average is $314.32 and its two-hundred day simple moving average is $298.93. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $54.39 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 4.24 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, analysts expect that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s dividend payout ratio is presently 123.84%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.10% of the company’s stock.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.