Apollon Wealth Management LLC Has $1.45 Million Stake in Public Storage $PSA

Apollon Wealth Management LLC reduced its stake in Public Storage (NYSE:PSA) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,954 shares of the real estate investment trust’s stock after selling 88 shares during the quarter. Apollon Wealth Management LLC’s holdings in Public Storage were worth $1,453,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage in the 2nd quarter valued at $25,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage in the 1st quarter valued at $36,000. Wayfinding Financial LLC bought a new position in Public Storage in the 1st quarter valued at $41,000. Finally, Rossby Financial LCC purchased a new stake in shares of Public Storage during the 1st quarter valued at $45,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Up 1.8%

Shares of NYSE PSA opened at $299.69 on Tuesday. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87. The business has a 50-day simple moving average of $288.00 and a two-hundred day simple moving average of $291.52. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market cap of $52.58 billion, a P/E ratio of 32.68, a P/E/G ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its 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. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $4.23 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several research analyst reports. BNP Paribas raised Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. BNP Paribas Exane initiated coverage on Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price for the company. Scotiabank decreased their target price on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. 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. Finally, Evercore ISI raised their target price on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.92.

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.