Public Storage (NYSE:PSA) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in shares of Public Storage (NYSE:PSA) by 46.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,937 shares of the real estate investment trust’s stock after purchasing an additional 4,723 shares during the period. Mizuho Securities USA LLC’s holdings in Public Storage were worth $4,473,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after buying an additional 1,358,493 shares during the period. Adelante Capital Management LLC lifted its position in shares of Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after purchasing an additional 1,164,630 shares during the last quarter. FMR LLC lifted its position in shares of Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after purchasing an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Public Storage by 57.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after acquiring an additional 405,847 shares in the last quarter. Finally, Amundi raised its stake in Public Storage by 54.0% during the 4th quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock worth $230,426,000 after acquiring an additional 273,486 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $291.19 on Monday. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $299.96 and a 200 day moving average price of $321.83. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Analysts Set New Price Targets

A number of research analysts have commented on PSA shares. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays reissued an “overweight” rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Truist Financial decreased their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Royal Bank of Canada decreased their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Scotiabank decreased their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $338.00.

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.