Resona Asset Management Co. Ltd. Buys Shares of 87,650 Public Storage (NYSE:PSA)

Resona Asset Management Co. Ltd. acquired a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 87,650 shares of the real estate investment trust's stock, valued at approximately $26,161,000. Resona Asset Management Co. Ltd. owned 0.05% of Public Storage as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Quent Capital LLC raised 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 buying an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Public Storage during the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new stake in Public Storage in the 4th quarter valued at $38,000. Toth Financial Advisory Corp grew its position in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock valued at $61,000 after acquiring an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new position in Public Storage during the fourth quarter worth $67,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Down 0.8 %

PSA traded down $2.10 during trading on Friday, reaching $275.97. 281,922 shares of the company's stock were exchanged, compared to its average volume of 729,568. The company's fifty day moving average price is $297.42 and its 200-day moving average price is $314.46. The firm has a market capitalization of $48.41 billion, a PE ratio of 28.66, a P/E/G ratio of 4.91 and a beta of 0.76. Public Storage has a fifty-two week low of $256.31 and a fifty-two week 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.

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Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.35%. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSA shares. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and boosted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Mizuho started coverage on Public Storage in a report on Wednesday. They set a "neutral" rating and a $287.00 price target for the company. Barclays reissued an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Finally, Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $332.08.

Public Storage Company 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.