Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Public Storage $PSA

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Public Storage (NYSE:PSA) by 5.9% during the second quarter, HoldingsChannel reports. The fund owned 415,988 shares of the real estate investment trust’s stock after purchasing an additional 23,226 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Public Storage were worth $122,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in Public Storage in the first quarter valued at approximately $271,196,000. Goldman Sachs Group Inc. lifted its position in shares of Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after buying an additional 475,342 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Public Storage in the 2nd quarter valued at $94,297,000. Vanguard Group Inc. grew its position in shares of Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after buying an additional 143,575 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Public Storage by 9.8% during the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock worth $462,774,000 after acquiring an additional 138,486 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 1.5%

Shares of PSA stock opened at $278.00 on Friday. The company has a market capitalization of $48.78 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $291.20 and its two-hundred day moving average is $292.51. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business earned $4.20 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSA. Evercore ISI reduced their price target on shares of Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research report on Monday, November 3rd. Wells Fargo & Company boosted their target price on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. UBS Group dropped their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Finally, Scotiabank reduced their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $325.38.

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.