Public Storage (NYSE:PSA) Stock Holdings Lifted by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Public Storage (NYSE:PSA) by 13.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,434 shares of the real estate investment trust’s stock after acquiring an additional 519 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Public Storage were worth $1,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PSA. Vanguard Group Inc. lifted its stake in Public Storage by 1.0% during the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after acquiring an additional 219,391 shares in the last quarter. APG Asset Management US Inc. boosted its stake in Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after purchasing an additional 100,000 shares during the period. Canada Pension Plan Investment Board grew its position in Public Storage by 8.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock worth $343,968,000 after purchasing an additional 95,080 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its stake in Public Storage by 17.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after purchasing an additional 173,975 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSA shares. Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup increased their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective on the stock. in a research report on Monday, August 5th. Wells Fargo & Company lowered their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays cut their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $339.64.

Public Storage Stock Down 1.0 %

Shares of Public Storage stock opened at $331.68 on Friday. Public Storage has a 12-month low of $251.49 and a 12-month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average price of $346.40 and a two-hundred day moving average price of $313.25. The stock has a market capitalization of $58.08 billion, a P/E ratio of 34.44, a PEG ratio of 5.57 and a beta of 0.70.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.62%. Public Storage’s payout ratio is presently 124.61%.

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.