Weaver Capital Management LLC Sells 1,986 Shares of Public Storage $PSA

Weaver Capital Management LLC reduced its position in Public Storage (NYSE:PSA) by 40.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,984 shares of the real estate investment trust’s stock after selling 1,986 shares during the quarter. Weaver Capital Management LLC’s holdings in Public Storage were worth $862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. bought a new stake in Public Storage during the second quarter valued at $25,000. Asset Dedication LLC grew its position in Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares in the last quarter. NewSquare Capital LLC grew its position in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Finally, SouthState Corp increased its stake in Public Storage by 209.4% in the 2nd quarter. SouthState Corp now owns 164 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $259.24 on Tuesday. The stock has a market cap of $45.49 billion, a PE ratio of 26.92, a PEG ratio of 5.58 and a beta of 1.01. The company’s fifty day moving average is $275.10 and its 200 day moving average is $284.47. Public Storage has a 52 week low of $256.60 and a 52 week high of $322.49. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s dividend payout ratio is presently 124.61%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a report on Monday, October 13th. Evercore ISI decreased their price target on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a report on Monday, December 1st. Wells Fargo & Company raised their price objective on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. BMO Capital Markets cut their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Finally, UBS Group lowered their price target on Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $317.80.

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.