Weaver Capital Management LLC Has $2.28 Million Stock Position in Public Storage $PSA

Weaver Capital Management LLC grew its position in Public Storage (NYSE:PSA) by 33.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,424 shares of the real estate investment trust’s stock after acquiring an additional 2,118 shares during the quarter. Weaver Capital Management LLC’s holdings in Public Storage were worth $2,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter worth $27,000. Bayban acquired a new stake in Public Storage during the fourth quarter worth $26,000. Raiffeisen Bank International AG bought a new stake in Public Storage in the 3rd quarter valued at $30,000. Wealth Watch Advisors INC bought a new stake in Public Storage in the 3rd quarter valued at $34,000. Finally, Knuff & Co LLC bought a new stake in Public Storage in the 4th quarter valued at $38,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the subject of a number of analyst reports. Scotiabank raised their price objective on shares of Public Storage from $340.00 to $342.00 and gave the stock a “sector outperform” rating in a report on Thursday, June 18th. Mizuho upped their target price on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada increased their price target on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Evercore raised their price target on shares of Public Storage from $317.00 to $318.00 in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $324.68.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Key Stories Impacting Public Storage

Here are the key news stories impacting Public Storage this week:

• Positive Sentiment: Public Storage announced it will acquire Public Storage Canada in a roughly $1.2 billion deal, giving it entry into major Canadian self-storage markets and adding 68 properties with room for occupancy and operating improvements. Public Storage to Acquire Public Storage Canada in Strategic Entry into Major Canadian Markets
• Positive Sentiment: Several writeups framed the Canada acquisition as a potentially attractive long-term growth driver, citing consolidation in self-storage, a high-5% going-in NOI yield, and possible efficiency gains. Can Public Storage’s $1.2B Canada Acquisition Drive Long-Term Growth?
• Positive Sentiment: Evercore raised its price target on Public Storage slightly to $318 from $317, signaling continued analyst confidence in the stock’s near-term valuation. MarketScreener
• Neutral Sentiment: One report said Public Storage Canada could be sold for about C$1.67 billion, which appears consistent with the company’s announced transaction value but does not add much new information for investors. Public Storage Canada to be sold for $1.67B
• Neutral Sentiment: Analyst commentary on Public Storage and peer Kite Realty Group was published, but the available details did not indicate a major change in outlook beyond general sector monitoring. Analysts Offer Insights on Real Estate Companies: Public Storage (PSA) and Kite Realty Group (KRG)

Public Storage Stock Up 0.4%

Shares of NYSE PSA opened at $321.37 on Wednesday. The stock has a market cap of $56.42 billion, a PE ratio of 33.17, a PEG ratio of 4.31 and a beta of 0.98. The business has a fifty day moving average of $307.97 and a two-hundred day moving average of $291.10. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts expect that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio is currently 123.84%.

Public Storage Company 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.