Weaver Capital Management LLC Has $1.64 Million Stock Holdings in Public Storage $PSA

Weaver Capital Management LLC lifted its holdings in Public Storage (NYSE:PSA) by 111.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,306 shares of the real estate investment trust’s stock after purchasing an additional 3,322 shares during the quarter. Weaver Capital Management LLC’s holdings in Public Storage were worth $1,636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Baker Ellis Asset Management LLC grew its position in shares of Public Storage by 2.0% in the 4th quarter. Baker Ellis Asset Management LLC now owns 17,662 shares of the real estate investment trust’s stock valued at $4,583,000 after purchasing an additional 351 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of Public Storage by 9.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 918 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 83 shares during the period. Oak Thistle LLC acquired a new position in shares of Public Storage in the 4th quarter valued at approximately $2,571,000. Yousif Capital Management LLC boosted its position in Public Storage by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 24,324 shares of the real estate investment trust’s stock worth $6,937,000 after acquiring an additional 667 shares during the last quarter. Finally, 4WEALTH Advisors Inc. boosted its position in Public Storage by 7.3% during the 4th quarter. 4WEALTH Advisors Inc. now owns 1,170 shares of the real estate investment trust’s stock worth $304,000 after acquiring an additional 80 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 3.9%

NYSE PSA opened at $290.16 on Thursday. The company has a market cap of $50.93 billion, a PE ratio of 32.17, a PEG ratio of 5.75 and a beta of 1.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a 12 month low of $256.54 and a 12 month high of $312.95. The stock has a 50 day moving average of $289.43 and a 200-day moving average of $283.01.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, March 16th. Public Storage’s dividend payout ratio is presently 133.04%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSA. BNP Paribas Exane reduced their price target on Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price target on shares of Public Storage in a research report on Friday, February 20th. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target for the company. in a research report on Thursday, February 5th. Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Scotiabank upped their price target on Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage presently has an average rating of “Hold” and a consensus target price of $306.53.

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.