Naviter Wealth LLC Decreases Holdings in Public Storage $PSA

Naviter Wealth LLC cut its holdings in shares of Public Storage (NYSE:PSA) by 22.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,850 shares of the real estate investment trust’s stock after selling 2,897 shares during the quarter. Naviter Wealth LLC’s holdings in Public Storage were worth $2,556,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanderbilt University raised its stake in shares of Public Storage by 15.9% during the fourth quarter. Vanderbilt University now owns 10,559 shares of the real estate investment trust’s stock worth $2,740,000 after acquiring an additional 1,447 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of Public Storage by 3.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 5,319 shares of the real estate investment trust’s stock worth $1,380,000 after acquiring an additional 187 shares in the last quarter. DMC Group LLC purchased a new position in shares of Public Storage during the fourth quarter worth approximately $256,000. South Shore Capital Advisors bought a new position in shares of Public Storage in the fourth quarter worth approximately $449,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Public Storage by 50.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 265 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 89 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.5%

Shares of Public Storage stock opened at $279.58 on Wednesday. The stock has a market capitalization of $49.07 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 5.75 and a beta of 1.02. The company’s 50 day moving average price is $289.11 and its 200-day moving average price is $282.96. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a $3.00 dividend. The ex-dividend date was Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 4.3%. Public Storage’s dividend payout ratio is 133.04%.

Wall Street Analyst Weigh In

PSA has been the topic of several recent analyst reports. BNP Paribas Exane cut their target price on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Evercore set a $302.00 target price on shares of Public Storage in a report on Tuesday, February 17th. Wolfe Research cut shares of Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price on the stock. in a report on Thursday, February 5th. Finally, Wall Street Zen cut shares of Public Storage from a “hold” rating to a “sell” rating in a report on Sunday, March 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $306.53.

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.