Daiwa Securities Group Inc. Has $203.64 Million Holdings in Public Storage (NYSE:PSA)

Daiwa Securities Group Inc. increased its stake in shares of Public Storage (NYSE:PSA) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 707,952 shares of the real estate investment trust’s stock after buying an additional 62,784 shares during the quarter. Public Storage accounts for 1.1% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 27th largest holding. Daiwa Securities Group Inc.’s holdings in Public Storage were worth $203,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PSA. EverSource Wealth Advisors LLC boosted its holdings in shares of Public Storage by 107.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 44 shares during the last quarter. Core Wealth Advisors Inc. bought a new stake in Public Storage in the fourth quarter worth about $30,000. OFI Invest Asset Management bought a new stake in Public Storage in the second quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new position in Public Storage in the second quarter valued at about $36,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Public Storage during the 4th quarter valued at approximately $37,000. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PSA. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a report on Monday, August 5th. Evercore ISI boosted their target price on Public Storage from $330.00 to $334.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Scotiabank increased their price target on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.21.

Public Storage Price Performance

PSA stock opened at $351.50 on Tuesday. The firm has a 50 day moving average of $314.46 and a 200-day moving average of $290.90. The firm has a market capitalization of $61.52 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 5.72 and a beta of 0.67. Public Storage has a 12 month low of $233.18 and a 12 month high of $353.23. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.28 earnings per share. As a group, sell-side analysts predict that Public Storage will post 16.72 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.41%. Public Storage’s dividend payout ratio is currently 108.99%.

About Public Storage

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.