Public Storage $PSA Shares Bought by Aptus Capital Advisors LLC

Key Points

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Aptus Capital Advisors LLC boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,921 shares of the real estate investment trust's stock after buying an additional 2,548 shares during the quarter. Aptus Capital Advisors LLC's holdings in Public Storage were worth $9,254,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after buying an additional 143,575 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock worth $848,425,000 after buying an additional 34,718 shares during the last quarter. Northern Trust Corp raised its position in Public Storage by 2.8% in the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust's stock worth $762,135,000 after buying an additional 69,882 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Public Storage by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock worth $638,805,000 after buying an additional 12,204 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Public Storage by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust's stock worth $509,803,000 after buying an additional 158,665 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BNP Paribas raised Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Evercore ISI raised their price target on Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research note on Monday, August 4th. BMO Capital Markets lowered Public Storage from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Mizuho lifted their price target on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Finally, Wells Fargo & Company lowered their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $335.43.

Public Storage Price Performance

Shares of Public Storage stock traded up $6.72 during mid-day trading on Friday, reaching $293.48. 460,134 shares of the stock traded hands, compared to its average volume of 813,849. The business has a 50-day moving average of $287.75 and a 200 day moving average of $294.54. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The stock has a market capitalization of $51.49 billion, a PE ratio of 32.00, a PEG ratio of 4.76 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, analysts predict that Public Storage will post 16.7 EPS for the current year.

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.