Resona Asset Management Co. Ltd. Boosts Stake in Public Storage $PSA

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC grew its holdings in shares of Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 34 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares during the last quarter. Raiffeisen Bank International AG raised its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares in the last quarter. Doliver Advisors LP raised its stake in Public Storage by 1.0% in the fourth quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock valued at $1,071,000 after purchasing an additional 39 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its stake in Public Storage by 14.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 310 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the transaction, the insider owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Evercore set a $316.00 price objective on shares of Public Storage in a research report on Monday. BMO Capital Markets lifted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. UBS Group reaffirmed a “neutral” rating on shares of Public Storage in a report on Monday, June 22nd. 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 report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $324.74.

Public Storage Stock Performance

NYSE:PSA opened at $319.15 on Friday. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 4.31 and a beta of 0.96. The business has a 50 day moving average of $312.38 and a 200 day moving average of $295.69. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued 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 dividend yield of 3.8%. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.

About Public Storage

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.