Resona Asset Management Co. Ltd. Sells 3,971 Shares of Public Storage $PSA

Resona Asset Management Co. Ltd. lessened its holdings in Public Storage (NYSE:PSA) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 91,019 shares of the real estate investment trust’s stock after selling 3,971 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Public Storage were worth $23,607,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Doliver Advisors LP grew its stake in Public Storage by 1.0% in the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock worth $1,071,000 after acquiring an additional 39 shares in the last quarter. Covestor Ltd grew its stake in Public Storage by 9.4% in the 3rd quarter. Covestor Ltd now owns 467 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 40 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Public Storage by 2.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust’s stock worth $504,000 after acquiring an additional 40 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Public Storage by 18.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 41 shares in the last quarter. Finally, Hilltop Holdings Inc. grew its stake in Public Storage by 4.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 906 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSA. Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective on the stock. in a research note on Tuesday, January 20th. Wells Fargo & Company downgraded shares of Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $312.94.

Public Storage Trading Up 0.6%

Shares of NYSE:PSA opened at $297.78 on Wednesday. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51. The firm has a market capitalization of $52.28 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 4.04 and a beta of 1.00. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day moving average price is $293.18 and its 200-day moving average price is $284.40.

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

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, June 15th. Public Storage’s payout ratio is currently 123.84%.

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.