Public Storage (NYSE:PSA) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 208.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,201 shares of the real estate investment trust's stock after buying 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 filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Conning Inc. boosted its holdings in Public Storage by 156.8% during the fourth quarter. Conning Inc. now owns 3,005 shares of the real estate investment trust's stock worth $900,000 after buying an additional 1,835 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in Public Storage during the fourth quarter worth $2,056,000. Global X Japan Co. Ltd. boosted its holdings in Public Storage by 13.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after buying an additional 40 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Public Storage by 5.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust's stock worth $16,089,000 after buying an additional 2,566 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Public Storage during the fourth quarter worth $16,215,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 1.2 %

PSA stock traded down $3.55 during mid-day trading on Friday, hitting $297.69. 398,801 shares of the company were exchanged, compared to its average volume of 644,080. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $52.13 billion, a P/E ratio of 30.91, a PEG ratio of 4.88 and a beta of 0.74. The business has a fifty day simple moving average of $301.36 and a 200-day simple moving average of $325.54. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Insiders Place Their Bets

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

Analysts Set New Price Targets

PSA has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered 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. Wells Fargo & Company reduced their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and increased their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and an average price target of $344.54.

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.