Mizuho Securities USA LLC Has $3.72 Million Stock Holdings in Public Storage (NYSE:PSA)

Mizuho Securities USA LLC reduced its position in shares of Public Storage (NYSE:PSA) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,214 shares of the real estate investment trust’s stock after selling 1,982 shares during the quarter. Mizuho Securities USA LLC’s holdings in Public Storage were worth $3,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSA. OFI Invest Asset Management bought a new stake in shares of Public Storage during the second quarter valued at approximately $32,000. Prospera Private Wealth LLC acquired a new stake in Public Storage in the 3rd quarter valued at $34,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the 2nd quarter valued at $36,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the third quarter worth $38,000. Finally, EdgeRock Capital LLC bought a new position in shares of Public Storage in the second quarter valued at $39,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.3 %

Shares of NYSE PSA opened at $337.24 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $251.49 and a 12 month high of $369.99. The firm has a market capitalization of $59.05 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 5.56 and a beta of 0.70. The firm has a fifty day simple moving average of $344.25 and a two-hundred day simple moving average of $315.91.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.56%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Analysts Set New Price Targets

Several research firms have recently commented on PSA. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research report on Thursday, August 1st. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Citigroup lifted their target price on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Morgan Stanley increased their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company cut their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $339.64.

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.