Resona Asset Management Co. Ltd. Increases Holdings in Public Storage $PSA

Resona Asset Management Co. Ltd. lifted its holdings in shares of Public Storage (NYSE:PSA) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,547 shares of the real estate investment trust’s stock after purchasing an additional 3,528 shares during the period. Resona Asset Management Co. Ltd. owned about 0.05% of Public Storage worth $25,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC grew its position in shares of Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after acquiring an additional 3,763 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Public Storage by 3.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after purchasing an additional 9,618 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Public Storage by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after purchasing an additional 25,353 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after purchasing an additional 12,444 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in Public Storage by 16.0% during the third quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock valued at $9,950,000 after purchasing an additional 4,762 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho raised their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. UBS Group reiterated a “neutral” rating on shares of Public Storage in a research note on Monday, June 22nd. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Truist Financial boosted their price objective on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $324.74.

Public Storage Stock Performance

Shares of PSA opened at $319.15 on Friday. The stock’s 50-day simple moving average is $312.38 and its 200 day simple moving average is $295.69. The stock has a market capitalization of $56.03 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 4.31 and a beta of 0.96. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79.

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

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. Public Storage’s payout ratio is currently 123.84%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

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.