Public Storage (NYSE:PSA) Stake Boosted by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Public Storage (NYSE:PSA) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,561 shares of the real estate investment trust’s stock after acquiring an additional 2,015 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Public Storage were worth $27,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after purchasing an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC increased its holdings in Public Storage by 389.9% in the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after buying an additional 1,164,630 shares during the last quarter. FMR LLC raised its position in Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Amundi lifted its stake in Public Storage by 54.0% in the fourth quarter. Amundi now owns 779,882 shares of the real estate investment trust’s stock valued at $230,426,000 after acquiring an additional 273,486 shares during the last quarter. Finally, Aew Capital Management L P grew its position in Public Storage by 108.6% in the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after acquiring an additional 228,740 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.8 %

Shares of PSA stock opened at $291.41 on Thursday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $51.12 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The stock has a 50 day moving average of $300.06 and a 200-day moving average of $320.89.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.12%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Barclays restated an “overweight” rating and set a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Wells Fargo & Company reduced their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Truist Financial decreased their price target on 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 cut their price objective on 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. Finally, Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $338.00.

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.