Weaver Capital Management LLC Has $862,000 Stock Position in Public Storage $PSA

Weaver Capital Management LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 40.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,984 shares of the real estate investment trust’s stock after selling 1,986 shares during the period. Weaver Capital Management LLC’s holdings in Public Storage were worth $862,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in Public Storage by 3.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after purchasing an additional 2,990 shares during the period. Clear Creek Financial Management LLC acquired a new stake in shares of Public Storage during the second quarter worth $342,000. Diversified Trust Co acquired a new stake in shares of Public Storage during the second quarter worth $418,000. Carnegie Investment Counsel lifted its holdings in Public Storage by 23.0% in the third quarter. Carnegie Investment Counsel now owns 112,769 shares of the real estate investment trust’s stock valued at $32,573,000 after buying an additional 21,073 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Public Storage by 24.3% during the second quarter. Baird Financial Group Inc. now owns 25,424 shares of the real estate investment trust’s stock valued at $7,460,000 after acquiring an additional 4,975 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PSA shares. Morgan Stanley started coverage on Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $301.00 target price (down previously from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. BNP Paribas Exane decreased their price target on shares of Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Truist Financial cut their price objective on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada cut their price target on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.80.

Public Storage Stock Performance

Shares of PSA stock opened at $259.24 on Tuesday. The firm’s 50-day simple moving average is $275.10 and its two-hundred day simple moving average is $284.47. Public Storage has a 52 week low of $256.60 and a 52 week high of $322.49. The firm has a market cap of $45.49 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 5.58 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, equities analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

About Public Storage

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.