Aptus Capital Advisors LLC Acquires 3,059 Shares of Public Storage (NYSE:PSA)

Aptus Capital Advisors LLC grew its stake in Public Storage (NYSE:PSA - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,373 shares of the real estate investment trust's stock after purchasing an additional 3,059 shares during the quarter. Aptus Capital Advisors LLC's holdings in Public Storage were worth $8,496,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quent Capital LLC grew its holdings in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 50 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Public Storage during the 4th quarter valued at $32,000. Synergy Asset Management LLC bought a new position in shares of Public Storage in the fourth quarter worth approximately $38,000. Millstone Evans Group LLC bought a new stake in Public Storage during the fourth quarter worth about $38,000. Finally, Parvin Asset Management LLC bought a new position in shares of Public Storage during the 4th quarter valued at $38,000. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and upped their target price for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective 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 raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Evercore ISI boosted their target price on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada cut their target price on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $333.75.

Public Storage Stock Performance

PSA stock traded up $1.72 during midday trading on Wednesday, reaching $299.70. The company had a trading volume of 991,061 shares, compared to its average volume of 741,628. The firm has a market capitalization of $52.57 billion, a PE ratio of 31.12, a P/E/G ratio of 4.91 and a beta of 0.91. The stock has a 50 day moving average price of $294.50 and a 200 day moving average price of $307.38. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. Public Storage's revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.03 earnings per share. Analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. Public Storage's payout ratio is 119.17%.

About Public Storage

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.