Norinchukin Bank The Has $4.66 Million Stock Holdings in Public Storage $PSA

Key Points

• Norinchukin Bank The increased its stake in Public Storage by 10.1%, owning 15,565 shares valued at approximately $4.66 million as of the latest reporting period.
• Price targets for Public Storage shares have varied, with Scotiabank raising theirs to $340.00, while BMO Capital Markets lowered it to $325.00, indicating differing analyst opinions.
• Public Storage reported $4.28 earnings per share for the last quarter, beating estimates, and has set FY 2025 guidance at 16.450-17.00 EPS.

Norinchukin Bank The increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,565 shares of the real estate investment trust's stock after purchasing an additional 1,422 shares during the period. Norinchukin Bank The's holdings in Public Storage were worth $4,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Financial LLC increased its holdings in shares of Public Storage by 6.8% in the first quarter. Summit Financial LLC now owns 1,757 shares of the real estate investment trust's stock valued at $526,000 after purchasing an additional 112 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Public Storage by 14.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,158 shares of the real estate investment trust's stock valued at $347,000 after acquiring an additional 143 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of Public Storage by 14.2% during the first quarter. Erste Asset Management GmbH now owns 26,600 shares of the real estate investment trust's stock worth $7,830,000 after acquiring an additional 3,300 shares during the period. Credit Agricole S A increased its stake in shares of Public Storage by 7.5% during the first quarter. Credit Agricole S A now owns 44,935 shares of the real estate investment trust's stock worth $13,449,000 after acquiring an additional 3,154 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Public Storage by 3.9% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,012 shares of the real estate investment trust's stock worth $1,201,000 after purchasing an additional 150 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Up 0.8%

Public Storage stock traded up $2.35 during midday trading on Wednesday, hitting $291.23. 129,474 shares of the stock were exchanged, compared to its average volume of 793,466. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The firm has a market cap of $51.10 billion, a P/E ratio of 31.76, a P/E/G ratio of 4.81 and a beta of 0.86. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The company has a 50 day moving average price of $287.57 and a two-hundred day moving average price of $294.30.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $4.23 EPS. The company's revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. Public Storage's dividend payout ratio is currently 130.86%.

Analysts Set New Price Targets

PSA has been the subject of a number of research analyst reports. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $340.00 to $325.00 in a report on Friday, June 20th. Mizuho raised their price objective on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Barclays dropped their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $335.43.

About Public Storage

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.