Meiji Yasuda Asset Management Co Ltd. Acquires New Stake in Public Storage $PSA

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,259 shares of the real estate investment trust’s stock, valued at approximately $719,000.

Other hedge funds have also modified their holdings of the company. Te Ahumairangi Investment Management Ltd purchased a new position in shares of Public Storage in the second quarter worth about $5,047,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Public Storage during the 2nd quarter valued at about $558,904,000. Globeflex Capital L P acquired a new stake in Public Storage in the 2nd quarter valued at about $3,689,000. Haverford Trust Co acquired a new stake in Public Storage in the 2nd quarter valued at about $1,294,000. Finally, First Nebraska Trust Co purchased a new position in Public Storage in the 2nd quarter worth approximately $3,556,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

NYSE:PSA opened at $322.56 on Wednesday. The company’s 50-day moving average is $322.47 and its two-hundred day moving average is $307.02. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $56.65 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.83 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts forecast that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is 114.50%.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada increased their price target on Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Evercore set a $316.00 price objective on Public Storage in a research report on Monday, July 6th. Barclays boosted their price objective on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Finally, BMO Capital Markets raised their target price on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $326.16.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.