Meiji Yasuda Asset Management Co Ltd. Takes $719,000 Position in Public Storage $PSA

Meiji Yasuda Asset Management Co Ltd. acquired a new position in Public Storage (NYSE:PSA) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 2,259 shares of the real estate investment trust’s stock, valued at approximately $719,000.

A number of other hedge funds have also recently made changes to their positions in PSA. Bayban purchased a new stake in Public Storage in the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Public Storage in the third quarter valued at $27,000. Bruce G. Allen Investments LLC grew its stake in shares of Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage in the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Public Storage in the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho increased their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $341.00 price target on shares of Public Storage in a research note on Wednesday, April 29th. Citigroup raised their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Scotiabank lifted their price objective on shares of Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Finally, Jefferies Financial Group upped their target price on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $326.16.

Public Storage Stock Down 0.7%

Public Storage stock opened at $322.56 on Wednesday. The stock has a market cap of $56.65 billion, a PE ratio of 30.78, a P/E/G ratio of 3.83 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock’s fifty day moving average is $322.47 and its two-hundred day moving average is $307.02. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm posted $4.28 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, sell-side analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is currently 114.50%.

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.