Mitsubishi UFJ Asset Management Co. Ltd. Acquires 17,474 Shares of Public Storage $PSA

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Public Storage (NYSE:PSA) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,462 shares of the real estate investment trust’s stock after purchasing an additional 17,474 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of Public Storage worth $125,205,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. First Pacific Financial bought a new position in Public Storage during the 3rd quarter worth approximately $26,000. Asset Dedication LLC grew its position in shares of Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Public Storage in the 3rd quarter valued at $30,000. NewSquare Capital LLC boosted its stake in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC bought a new stake in Public Storage in the third quarter valued at $33,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 1.4%

Shares of NYSE PSA opened at $303.49 on Friday. Public Storage has a one year low of $256.54 and a one year high of $322.49. The stock has a market capitalization of $53.27 billion, a P/E ratio of 33.65, a PEG ratio of 6.07 and a beta of 1.01. The firm’s 50 day simple moving average is $281.23 and its two-hundred day simple moving average is $283.28. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. Public Storage’s payout ratio is currently 133.04%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley began coverage on shares of Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. Barclays set a $331.00 target price on shares of Public Storage in a research report on Tuesday, January 13th. Royal Bank Of Canada decreased their price target on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Truist Financial boosted their price objective on Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, BMO Capital Markets decreased their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $307.00.

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.