Nomura Asset Management Co. Ltd. Raises Position in Public Storage $PSA

Key Points

• Nomura Asset Management increased its Public Storage stake by 3.4% in the fourth quarter, buying 9,618 additional shares and bringing its total to 289,675 shares worth about $75.2 million.
• Analysts remain cautious overall: the stock’s consensus rating is Hold, with an average price target of $316.06 after recent mixed rating changes and target-price adjustments from several brokerages.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share and announced a $3.00 quarterly dividend, equal to a 3.9% annualized yield.

Nomura Asset Management Co. Ltd. grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,675 shares of the real estate investment trust's stock after purchasing an additional 9,618 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.17% of Public Storage worth $75,171,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust's stock valued at $575,000 after purchasing an additional 37 shares during the last quarter. Doliver Advisors LP lifted its holdings in shares of Public Storage by 1.0% during the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust's stock valued at $1,071,000 after purchasing an additional 39 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Public Storage by 18.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 41 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Public Storage by 4.7% during the 3rd quarter. Hilltop Holdings Inc. now owns 906 shares of the real estate investment trust's stock valued at $262,000 after purchasing an additional 41 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Public Storage by 1.1% during the 3rd quarter. Synovus Financial Corp now owns 3,969 shares of the real estate investment trust's stock valued at $1,147,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PSA. Wells Fargo & Company lowered Public Storage from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $330.00 to $295.00 in a report on Thursday, February 5th. Evercore set a $306.00 target price on Public Storage in a research report on Monday, May 4th. Royal Bank Of Canada upped their target price on Public Storage from $301.00 to $305.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 29th. Wall Street Zen raised Public Storage from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Barclays cut their target price on Public Storage from $352.00 to $349.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $316.06.

Public Storage Price Performance

NYSE PSA opened at $304.01 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock's fifty day moving average price is $294.80 and its 200 day moving average price is $285.91. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51. The company has a market cap of $53.37 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 4.15 and a beta of 1.00.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $4.12 EPS. The firm's revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.9 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage's dividend payout ratio (DPR) is currently 123.84%.

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.

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