Asset Management One Co. Ltd. Has $111.11 Million Stake in Public Storage (NYSE:PSA)

Asset Management One Co. Ltd. lowered its holdings in shares of Public Storage (NYSE:PSA) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,368 shares of the real estate investment trust’s stock after selling 5,914 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Public Storage were worth $111,114,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in shares of Public Storage during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the second quarter worth about $36,000. Crewe Advisors LLC acquired a new stake in Public Storage in the 1st quarter valued at approximately $39,000. EdgeRock Capital LLC acquired a new position in Public Storage during the 2nd quarter worth approximately $39,000. Finally, LRI Investments LLC bought a new position in shares of Public Storage during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSA. Royal Bank of Canada assumed coverage on shares of Public Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price for the company. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a report on Thursday, August 1st. Barclays raised their price target on Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Citigroup increased their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Jefferies Financial Group upped their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $341.43.

Public Storage Stock Performance

NYSE:PSA opened at $326.39 on Monday. The stock has a 50 day simple moving average of $347.69 and a 200 day simple moving average of $309.47. The stock has a market cap of $57.12 billion, a P/E ratio of 33.61, a PEG ratio of 4.64 and a beta of 0.70. Public Storage has a 1-year low of $241.60 and a 1-year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.68%. Public Storage’s payout ratio is presently 124.61%.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.