Public Storage (NYSE:PSA) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its position in Public Storage (NYSE:PSA) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,514 shares of the real estate investment trust’s stock after acquiring an additional 221 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Public Storage were worth $1,072,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. AdvisorNet Financial Inc lifted its position in Public Storage by 3.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 35 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Public Storage by 4.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 43 shares during the period. Wealth Alliance increased its holdings in shares of Public Storage by 5.3% in the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 43 shares in the last quarter. RB Capital Management LLC increased its holdings in shares of Public Storage by 1.1% in the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after buying an additional 43 shares in the last quarter. Finally, Aspire Private Capital LLC increased its stake in shares of Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.4 %

Shares of NYSE PSA traded up $0.92 during midday trading on Friday, hitting $259.60. The company’s stock had a trading volume of 88,520 shares, compared to its average volume of 714,770. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The business’s fifty day simple moving average is $279.16 and its two-hundred day simple moving average is $276.39. The firm has a market capitalization of $45.61 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 3.44 and a beta of 0.54.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $4.16 EPS. On average, equities analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.62%. Public Storage’s dividend payout ratio is currently 108.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSA shares. BMO Capital Markets upped their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Truist Financial upped their price target on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, December 28th. Scotiabank increased their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Finally, Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.00.

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.