Public Storage (NYSE:PSA) is Weil Company Inc.’s 3rd Largest Position

Weil Company Inc. lowered its stake in shares of Public Storage (NYSE:PSA) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,242 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. Public Storage makes up 6.4% of Weil Company Inc.’s holdings, making the stock its 3rd biggest position. Weil Company Inc.’s holdings in Public Storage were worth $18,638,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Public Storage by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after acquiring an additional 2,566 shares during the period. Larson Financial Group LLC grew its holdings in Public Storage by 3,714.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 1,783 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Public Storage by 25.4% during the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after purchasing an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Public Storage by 114.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after purchasing an additional 48,803 shares during the period. Finally, Swedbank AB lifted its stake in Public Storage by 31.9% in the third quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock worth $56,097,000 after purchasing an additional 37,285 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSA. Wells Fargo & Company cut their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Truist Financial upped their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Barclays reduced their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $341.85.

Public Storage Price Performance

Shares of PSA opened at $308.39 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $297.76 and a 200-day moving average price of $325.45. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock has a market capitalization of $54.00 billion, a PE ratio of 32.02, a PEG ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.89%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

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.