Apollon Wealth Management LLC Acquires 3,513 Shares of Public Storage (NYSE:PSA)

Apollon Wealth Management LLC grew its holdings in Public Storage (NYSE:PSA) by 208.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,201 shares of the real estate investment trust’s stock after acquiring an additional 3,513 shares during the period. Apollon Wealth Management LLC’s holdings in Public Storage were worth $1,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the third quarter worth about $38,000. Synergy Asset Management LLC bought a new position in shares of Public Storage in the fourth quarter worth about $38,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage during the 3rd quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PSA. Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Barclays dropped their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Royal Bank of Canada dropped their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $344.54.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is currently owned by company insiders.

Public Storage Stock Up 0.3 %

Shares of PSA opened at $303.40 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $53.13 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The business’s 50 day simple moving average is $304.09 and its 200-day simple moving average is $325.80.

Public Storage Company 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.