Public Storage (NYSE:PSA) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC lifted its holdings in Public Storage (NYSE:PSA) by 46.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,937 shares of the real estate investment trust’s stock after buying an additional 4,723 shares during the quarter. Mizuho Securities USA LLC’s holdings in Public Storage were worth $4,473,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the fourth quarter valued at $38,000. Millstone Evans Group LLC purchased a new position in shares of Public Storage in the fourth quarter valued at $38,000. Toth Financial Advisory Corp boosted its stake in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the period. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Public Storage in the fourth quarter valued at $67,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Down 1.8 %

PSA stock opened at $291.19 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm’s 50-day simple moving average is $299.96 and its 200 day simple moving average is $321.83. The stock has a market cap of $51.08 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.12%. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Scotiabank reduced their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Barclays reiterated an “overweight” rating and set a $354.00 price objective (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $338.00.

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.