Resona Asset Management Co. Ltd. Cuts Position in Public Storage $PSA

Resona Asset Management Co. Ltd. lessened its holdings in Public Storage (NYSE:PSA) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,019 shares of the real estate investment trust’s stock after selling 3,971 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.05% of Public Storage worth $23,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter worth approximately $27,000. Raiffeisen Bank International AG bought a new position in shares of Public Storage in the third quarter worth approximately $30,000. Wealth Watch Advisors INC bought a new position in shares of Public Storage in the third quarter worth approximately $34,000. Knuff & Co LLC bought a new position in shares of Public Storage in the fourth quarter worth approximately $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Public Storage by 2,940.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.6%

NYSE PSA opened at $297.78 on Wednesday. The stock’s 50-day moving average price is $293.18 and its 200-day moving average price is $284.40. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 52 week low of $256.54 and a 52 week high of $313.51. The company has a market capitalization of $52.28 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 4.04 and a beta of 1.00.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company’s revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts predict that Public Storage will post 16.89 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage’s payout ratio is presently 123.84%.

Analyst Ratings Changes

PSA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a report on Thursday, February 5th. Truist Financial increased their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Royal Bank Of Canada increased their price objective on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.94.

Public Storage Company 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.