Asset Management One Co. Ltd. Trims Stock Holdings in Public Storage $PSA

Asset Management One Co. Ltd. decreased its position in Public Storage (NYSE:PSA) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,341 shares of the real estate investment trust’s stock after selling 3,062 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.17% of Public Storage worth $87,620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage in the 2nd quarter worth about $25,000. Harbor Asset Planning Inc. bought a new position in shares of Public Storage during the second quarter valued at approximately $25,000. First Pacific Financial purchased a new position in shares of Public Storage during the third quarter valued at approximately $26,000. Asset Dedication LLC lifted its holdings in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. Finally, NewSquare Capital LLC boosted its position in shares of Public Storage by 60.6% in the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSA. Morgan Stanley began coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective for the company. BNP Paribas Exane reduced their price target on Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. UBS Group lowered their price target on Public Storage from $295.00 to $293.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Evercore ISI cut their price objective on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a research report on Monday, December 1st. Finally, Truist Financial reduced their price objective on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $317.80.

Public Storage Trading Down 0.4%

Public Storage stock opened at $258.50 on Friday. Public Storage has a one year low of $256.60 and a one year high of $322.49. The business’s fifty day moving average is $271.31 and its 200 day moving average is $283.57. The stock has a market capitalization of $45.36 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 5.37 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. Public Storage’s dividend payout ratio is 124.61%.

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.