Asset Management One Co. Ltd. Has $102.24 Million Stock Holdings in Public Storage (NYSE:PSA)

Asset Management One Co. Ltd. trimmed its position in Public Storage (NYSE:PSA - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 332,169 shares of the real estate investment trust's stock after selling 14,010 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.19% of Public Storage worth $102,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisory Alpha LLC bought a new position in shares of Public Storage during the 4th quarter valued at about $713,000. GAM Holding AG lifted its holdings in shares of Public Storage by 5.0% during the 4th quarter. GAM Holding AG now owns 31,288 shares of the real estate investment trust's stock valued at $9,543,000 after purchasing an additional 1,500 shares in the last quarter. White Lighthouse Investment Management Inc. bought a new position in shares of Public Storage during the 4th quarter valued at about $229,000. Vanderbilt University lifted its holdings in shares of Public Storage by 8.6% during the 4th quarter. Vanderbilt University now owns 3,818 shares of the real estate investment trust's stock valued at $1,164,000 after purchasing an additional 302 shares in the last quarter. Finally, Stonegate Investment Group LLC lifted its holdings in shares of Public Storage by 17.3% during the 4th quarter. Stonegate Investment Group LLC now owns 2,133 shares of the real estate investment trust's stock valued at $651,000 after purchasing an additional 314 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PSA shares. BMO Capital Markets upped their price target on Public Storage from $325.00 to $330.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 19th. Truist Financial upped their price target on Public Storage from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, December 28th. Barclays started coverage on Public Storage in a research report on Wednesday, March 27th. They set an "overweight" rating and a $330.00 price target for the company. The Goldman Sachs Group upped their price target on Public Storage from $307.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. Finally, Raymond James raised Public Storage from a "market perform" rating to a "strong-buy" rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $302.50.

Public Storage Stock Performance

PSA stock traded up $0.32 during trading hours on Thursday, hitting $280.64. 499,691 shares of the stock were exchanged, compared to its average volume of 744,424. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $49.31 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.72 and a beta of 0.54. The company has a 50-day simple moving average of $283.39 and a two-hundred day simple moving average of $275.77. Public Storage has a 12 month low of $233.18 and a 12 month high of $316.48.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business posted $4.16 EPS. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage's dividend payout ratio (DPR) is presently 108.50%.

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.

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