Public Storage $PSA Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Public Storage (NYSE:PSA) by 5.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,988 shares of the real estate investment trust’s stock after buying an additional 23,226 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Public Storage worth $122,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage during the second quarter worth $25,000. Harbor Asset Planning Inc. purchased a new position in shares of Public Storage during the 2nd quarter worth $25,000. Spectrum Wealth Counsel LLC acquired a new stake in shares of Public Storage during the 1st quarter worth about $30,000. NewSquare Capital LLC raised its holdings in Public Storage by 60.6% in the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 40 shares during the period. Finally, Winch Advisory Services LLC raised its holdings in Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 1.5%

NYSE:PSA opened at $278.00 on Friday. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The firm has a market cap of $48.78 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The stock has a fifty day moving average price of $291.20 and a 200 day moving average price of $292.51.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. Public Storage’s payout ratio is currently 124.61%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PSA. Royal Bank Of Canada lowered their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. UBS Group decreased their price objective on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. Wells Fargo & Company lifted their target price on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. JPMorgan Chase & Co. cut their target price on Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $325.38.

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.