Mufg Securities Americas Inc. Buys Shares of 2,327 Public Storage (NYSE:PSA)

Mufg Securities Americas Inc. bought a new stake in Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,327 shares of the real estate investment trust's stock, valued at approximately $697,000.

A number of other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after acquiring an additional 38 shares during the period. Werba Rubin Papier Wealth Management raised its position in Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after acquiring an additional 38 shares during the period. Lido Advisors LLC raised its position in Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after acquiring an additional 39 shares during the period. Premier Path Wealth Partners LLC raised its position in Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock worth $366,000 after acquiring an additional 40 shares during the period. Finally, Global X Japan Co. Ltd. raised its position in Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 40 shares during the period. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $298.22 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $52.32 billion, a P/E ratio of 30.97, a P/E/G ratio of 4.91 and a beta of 0.91. The firm's fifty day moving average is $293.61 and its two-hundred day moving average is $306.15. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $4.03 EPS. The company's revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.02%. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PSA shares. Barclays reiterated an "overweight" rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Mizuho started coverage on Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective on the stock. Scotiabank raised their price objective on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research report on Thursday, April 10th. Finally, Bank of America raised their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $337.67.

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.

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