Nomura Holdings Inc. Invests $7.03 Million in Public Storage (NYSE:PSA)

Nomura Holdings Inc. acquired a new position in Public Storage (NYSE:PSA) in the 4th quarter, Holdings Channel reports. The firm acquired 23,485 shares of the real estate investment trust’s stock, valued at approximately $7,032,000.

Several other large investors also recently made changes to their positions in the business. NorthRock Partners LLC acquired a new stake in shares of Public Storage in the fourth quarter worth $667,000. OMERS ADMINISTRATION Corp boosted its stake in shares of Public Storage by 20.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 6,632 shares of the real estate investment trust’s stock valued at $1,986,000 after purchasing an additional 1,122 shares during the period. Investment Management Corp of Ontario boosted its stake in shares of Public Storage by 8.6% in the fourth quarter. Investment Management Corp of Ontario now owns 16,156 shares of the real estate investment trust’s stock valued at $4,838,000 after purchasing an additional 1,284 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Public Storage by 7.5% in the fourth quarter. Janus Henderson Group PLC now owns 431,129 shares of the real estate investment trust’s stock valued at $129,021,000 after purchasing an additional 29,972 shares during the period. Finally, GRS Advisors LLC purchased a new position in shares of Public Storage in the fourth quarter valued at $33,629,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Down 1.3%

Public Storage stock opened at $298.22 on Thursday. The stock has a market cap of $52.32 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 4.91 and a beta of 0.91. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company’s 50-day moving average price is $293.61 and its two-hundred day moving average price is $306.15. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. Public Storage’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $4.03 EPS. On average, analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.02%. Public Storage’s dividend payout ratio (DPR) is 119.17%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI upped their target price on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a research note on Friday, May 2nd. Scotiabank upped their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research note on Monday. Mizuho initiated coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Bank of America increased their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $337.67.

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.