Aptus Capital Advisors LLC Has $9.21 Million Stock Position in Public Storage (NYSE:PSA)

Aptus Capital Advisors LLC raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 18.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,314 shares of the real estate investment trust's stock after purchasing an additional 4,028 shares during the quarter. Aptus Capital Advisors LLC's holdings in Public Storage were worth $9,211,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Public Storage during the 2nd quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the second quarter worth approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the third quarter worth approximately $38,000. Crewe Advisors LLC purchased a new position in Public Storage during the first quarter valued at approximately $39,000. Finally, EdgeRock Capital LLC purchased a new stake in Public Storage in the 2nd quarter worth approximately $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE:PSA traded up $4.70 during midday trading on Wednesday, reaching $334.94. 713,883 shares of the company's stock were exchanged, compared to its average volume of 717,865. 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's 50 day simple moving average is $346.58 and its two-hundred day simple moving average is $313.10. Public Storage has a 12 month low of $250.51 and a 12 month high of $369.99. The firm has a market capitalization of $58.65 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 4.66 and a beta of 0.70.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio is 124.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PSA shares. Evercore ISI lowered their price target on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Wolfe Research upgraded Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th. Truist Financial lowered shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price objective on the stock. in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $339.64.

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.