28,091 Shares in Public Storage (NYSE:PSA) Purchased by Nomura Holdings Inc.

Nomura Holdings Inc. bought a new stake in Public Storage (NYSE:PSA) during the 4th quarter, Holdings Channel reports. The firm bought 28,091 shares of the real estate investment trust’s stock, valued at approximately $8,568,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Public Storage by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock worth $835,032,000 after acquiring an additional 729,262 shares during the period. Norges Bank acquired a new position in Public Storage in the fourth quarter valued at about $821,151,000. Charles Schwab Investment Management Inc. increased its position in shares of Public Storage by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,687,170 shares of the real estate investment trust’s stock valued at $794,161,000 after acquiring an additional 216,331 shares during the last quarter. Northern Trust Corp raised its stake in shares of Public Storage by 2.8% in the 3rd quarter. Northern Trust Corp now owns 2,311,981 shares of the real estate investment trust’s stock valued at $609,253,000 after acquiring an additional 63,289 shares during the period. Finally, APG Asset Management US Inc. lifted its holdings in shares of Public Storage by 4.7% in the 4th quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock worth $632,758,000 after acquiring an additional 93,122 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 2.7 %

Shares of NYSE PSA opened at $291.45 on Wednesday. The business has a 50-day moving average of $272.48 and a two-hundred day moving average of $281.93. The company has a market capitalization of $51.22 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be paid a $3.00 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.12%. Public Storage’s dividend payout ratio is currently 108.99%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. BMO Capital Markets boosted their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $280.00 to $310.00 in a report on Friday, April 5th. Barclays reduced their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research note on Thursday, March 28th. Finally, Scotiabank boosted their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

Insiders Place Their Bets

In related news, Director Kristy Pipes purchased 2,149 shares of Public Storage stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the transaction, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction on Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the transaction, the insider now directly owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, with a total value of $599,485.04. Following the purchase, the director now owns 2,149 shares in the company, valued at $599,485.04. The disclosure for this purchase can be found here. 11.10% of the stock is owned by corporate insiders.

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.