Daiwa Securities Group Inc. Has $326.76 Million Holdings in Public Storage (NYSE:PSA)

Daiwa Securities Group Inc. lessened its holdings in Public Storage (NYSE:PSA - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,091,240 shares of the real estate investment trust's stock after selling 22,559 shares during the quarter. Public Storage accounts for approximately 1.5% of Daiwa Securities Group Inc.'s holdings, making the stock its 17th biggest holding. Daiwa Securities Group Inc. owned approximately 0.62% of Public Storage worth $326,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the 3rd quarter worth about $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the 4th quarter worth about $38,000. Finally, Toth Financial Advisory Corp lifted its position in Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after purchasing an additional 66 shares during the period. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PSA shares. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Scotiabank lowered their price target on Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 5th. Finally, Barclays reaffirmed an "overweight" rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given 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 $339.69.

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Public Storage Stock Down 1.6 %

NYSE:PSA traded down $4.82 during trading hours on Wednesday, reaching $303.39. 834,417 shares of the stock were exchanged, compared to its average volume of 725,615. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50 day moving average of $299.92 and a 200 day moving average of $324.23. The stock has a market cap of $53.22 billion, a PE ratio of 31.50, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is currently 112.89%.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 11.10% of the company's stock.

Public Storage Profile

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.