Public Storage (NYSE:PSA) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in shares of Public Storage (NYSE:PSA) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,091,240 shares of the real estate investment trust’s stock after selling 22,559 shares during the quarter. Public Storage accounts for approximately 1.5% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 17th largest holding. Daiwa Securities Group Inc. owned 0.62% of Public Storage worth $326,761,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Quent Capital LLC lifted its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in Public Storage during the third quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the third quarter valued at $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the 4th quarter worth about $38,000. Finally, Toth Financial Advisory Corp raised its stake in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $313.99 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a market capitalization of $55.08 billion, a PE ratio of 32.61, a P/E/G ratio of 4.91 and a beta of 0.73. The business’s 50 day moving average price is $299.31 and its 200-day moving average price is $324.74.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.82%. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada dropped their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Scotiabank decreased their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.23.

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.