Tokio Marine Asset Management Co. Ltd. Has $1.61 Million Stock Position in Public Storage (NYSE:PSA)

Tokio Marine Asset Management Co. Ltd. grew its holdings in Public Storage (NYSE:PSA) by 13.3% in the 3rd quarter, Holdings Channel reports. The fund owned 4,434 shares of the real estate investment trust’s stock after purchasing an additional 519 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Public Storage were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in Public Storage in the 2nd quarter worth $32,000. Opal Wealth Advisors LLC bought a new position in Public Storage during the second quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the 3rd quarter valued at approximately $38,000. Crewe Advisors LLC bought a new stake in shares of Public Storage in the 1st quarter worth approximately $39,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $331.68 on Friday. The business has a fifty day moving average of $346.40 and a 200-day moving average of $313.25. The firm has a market cap of $58.08 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a twelve month low of $251.49 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio is presently 124.61%.

Analysts Set New Price Targets

Several research analysts recently commented on PSA shares. Evercore ISI reduced their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group raised their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays lowered their target price on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley raised their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $339.64.

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.