Mizuho Securities USA LLC Has $3.78 Million Stock Holdings in Public Storage (NYSE:PSA)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Public Storage by 15.5%, leaving them with 12,619 shares valued at approximately $3.78 million.
• Public Storage reported a net margin of 38.13% and an EPS of $4.28 for the last quarter, slightly exceeding analysts' expectations.
• Analysts have mixed ratings on Public Storage, with an average target price of $335.43 and a noteworthy number of ratings, including one sell, six holds, eight buys, and two strong buys.

Mizuho Securities USA LLC lowered its holdings in Public Storage (NYSE:PSA - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,619 shares of the real estate investment trust's stock after selling 2,318 shares during the quarter. Mizuho Securities USA LLC's holdings in Public Storage were worth $3,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSA. Ameriflex Group Inc. bought a new stake in Public Storage during the fourth quarter worth about $30,000. Spectrum Wealth Counsel LLC bought a new stake in Public Storage during the first quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage during the fourth quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the first quarter worth about $36,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage during the fourth quarter worth about $38,000. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Up 0.2%

NYSE PSA traded up $0.67 during trading hours on Tuesday, hitting $280.42. The company's stock had a trading volume of 744,295 shares, compared to its average volume of 914,184. The stock has a fifty day moving average of $290.22 and a 200 day moving average of $295.17. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The firm has a market capitalization of $49.20 billion, a P/E ratio of 30.58, a PEG ratio of 4.64 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. Public Storage's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.23 earnings per share. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on PSA shares. Bank of America upped their price objective on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Evercore ISI upped their price objective on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. Wells Fargo & Company decreased their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Scotiabank increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Finally, Barclays decreased their price target on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and a consensus target price of $335.43.

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.