Resona Asset Management Co. Ltd. Has $27.42 Million Holdings in Public Storage $PSA

by · The Markets Daily

Resona Asset Management Co. Ltd. boosted its position in Public Storage (NYSE:PSA – Free Report) by 6.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 94,990 shares of the real estate investment trust’s stock after purchasing an additional 5,861 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Public Storage were worth $27,415,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Harbor Asset Planning Inc. bought a new position in shares of Public Storage in the 2nd quarter worth about $25,000. First Pacific Financial bought a new stake in shares of Public Storage during the 3rd quarter valued at about $26,000. Asset Dedication LLC grew its stake in Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. NewSquare Capital LLC grew its stake in Public Storage by 60.6% during the second 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 during the period. Finally, Tradewinds Capital Management LLC acquired a new stake in Public Storage during the third quarter worth approximately $33,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $282.44 on Friday. The company has a market cap of $49.56 billion, a P/E ratio of 29.33, a PEG ratio of 7.33 and a beta of 1.01. The company has a fifty day simple moving average of $271.59 and a 200 day simple moving average of $282.34. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49.

Public Storage (NYSE:PSA – Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid 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 4.2%. Public Storage’s payout ratio is 124.61%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PSA shares. BNP Paribas Exane dropped their price target on Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Royal Bank Of Canada lowered their price objective on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price on the stock. in a research note on Tuesday. The Goldman Sachs Group reduced their price target on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $313.19.

Read Our Latest Stock Analysis on Public Storage

Public Storage Company Profile

(Free Report)

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.

See Also

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