Sun Sep 15 14:38:55 UTC 2024: ## DekaBank Deutsche Girozentrale Reduces Stake in Public Storage

**New York, NY (MarketBeat News)** – DekaBank Deutsche Girozentrale has trimmed its stake in self-storage giant Public Storage (NYSE:PSA) by 2.0% during the second quarter, according to Holdings Channel. The fund now owns 131,544 shares of the real estate investment trust, valued at $37.45 million.

This move comes amidst a wave of activity from institutional investors in PSA. While DekaBank reduced its holding, other investors like EverSource Wealth Advisors LLC and Core Wealth Advisors Inc. increased their positions in the company.

Public Storage’s stock opened at $359.16 on Friday, with a market capitalization of $62.86 billion. The company has a P/E ratio of 32.62 and a dividend yield of 3.34%.

Analysts remain optimistic about Public Storage, with five issuing “buy” ratings, seven “hold” ratings, and two “strong buy” ratings. The average target price for the stock is $325.15.

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that specializes in acquiring, developing, and managing self-storage facilities. As of December 31, 2023, the company owned interests in 3,044 facilities across 40 states and a 35% stake in Shurgard Self Storage Limited, which operates in seven Western European nations.

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