Mizuho Securities USA LLC Sells 1,982 Shares of Public Storage (NYSE:PSA)

Mizuho Securities USA LLC reduced its holdings in shares of Public Storage (NYSE:PSA) by 16.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,214 shares of the real estate investment trust’s stock after selling 1,982 shares during the quarter. Mizuho Securities USA LLC’s holdings in Public Storage were worth $3,717,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSA. OFI Invest Asset Management bought a new position in shares of Public Storage in the second quarter worth about $32,000. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter valued at approximately $34,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage in the second quarter valued at approximately $36,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the third quarter worth $38,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Public Storage during the second quarter worth $39,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

PSA stock opened at $337.24 on Friday. Public Storage has a 1-year low of $251.49 and a 1-year high of $369.99. 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 stock has a 50-day moving average price of $344.25 and a 200-day moving average price of $315.91. The firm has a market cap of $59.05 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 5.56 and a beta of 0.70.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a report on Thursday, August 1st. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group lifted their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Citigroup upped their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $339.64.

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.