Nomura Asset Management Co. Ltd. Buys 10,168 Shares of Public Storage (NYSE:PSA)

Nomura Asset Management Co. Ltd. increased its position in Public Storage (NYSE:PSA) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,039 shares of the real estate investment trust’s stock after purchasing an additional 10,168 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.15% of Public Storage worth $76,369,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new stake in shares of Public Storage in the 4th quarter worth approximately $9,562,000. Norges Bank bought a new position in Public Storage in the fourth quarter worth approximately $931,286,000. Blair William & Co. IL raised its stake in Public Storage by 16.0% in the fourth quarter. Blair William & Co. IL now owns 3,036 shares of the real estate investment trust’s stock worth $909,000 after buying an additional 419 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Public Storage by 31.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 382 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 91 shares during the period. Finally, AssuredPartners Investment Advisors LLC bought a new stake in Public Storage during the 4th quarter valued at $398,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Shares of PSA stock opened at $292.21 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day moving average of $299.95 and a 200 day moving average of $320.70. The firm has a market capitalization of $51.26 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. Public Storage’s dividend payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Barclays reissued an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Scotiabank decreased their price target 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. Royal Bank of Canada cut 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 report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $338.00.

Public Storage 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.