Daiwa Securities Group Inc. Purchases 30,063 Shares of Public Storage $PSA

Daiwa Securities Group Inc. boosted its position in Public Storage (NYSE:PSA) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,044 shares of the real estate investment trust’s stock after buying an additional 30,063 shares during the quarter. Public Storage makes up approximately 0.6% of Daiwa Securities Group Inc.’s portfolio, making the stock its 23rd biggest position. Daiwa Securities Group Inc. owned about 0.52% of Public Storage worth $293,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. State of Michigan Retirement System lifted its holdings in shares of Public Storage by 6.0% in the 2nd quarter. State of Michigan Retirement System now owns 46,221 shares of the real estate investment trust’s stock worth $14,713,000 after acquiring an additional 2,600 shares during the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of Public Storage by 4.8% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 3,388 shares of the real estate investment trust’s stock valued at $1,078,000 after purchasing an additional 155 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Public Storage by 7.7% during the 2nd quarter. Pictet Asset Management Holding SA now owns 77,971 shares of the real estate investment trust’s stock valued at $24,819,000 after purchasing an additional 5,560 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Public Storage by 4.0% during the 2nd quarter. Assetmark Inc. now owns 3,799 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 145 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Public Storage by 3.0% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,406 shares of the real estate investment trust’s stock worth $1,721,000 after purchasing an additional 155 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the subject of several recent research reports. Evercore set a $316.00 price target on shares of Public Storage in a research note on Monday, July 6th. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Citigroup lifted their price objective on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Mizuho boosted their target price on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. increased their target price on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $326.05.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $325.99 on Friday. The stock has a market capitalization of $57.25 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 3.87 and a beta of 0.96. The firm’s 50-day moving average price is $322.15 and its two-hundred day moving average price is $304.57. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. Public Storage’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities analysts predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is 114.50%.

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.