Columbus Macro LLC Increases Position in Public Storage (NYSE:PSA)

Columbus Macro LLC raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,531 shares of the real estate investment trust's stock after acquiring an additional 1,127 shares during the quarter. Columbus Macro LLC's holdings in Public Storage were worth $6,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PSA. Empowered Funds LLC increased its holdings in Public Storage by 11.2% during the 4th quarter. Empowered Funds LLC now owns 2,813 shares of the real estate investment trust's stock valued at $842,000 after acquiring an additional 283 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Public Storage by 28.1% during the 4th quarter. Vontobel Holding Ltd. now owns 2,652 shares of the real estate investment trust's stock valued at $794,000 after acquiring an additional 581 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Public Storage by 10.2% during the 4th quarter. V Square Quantitative Management LLC now owns 1,439 shares of the real estate investment trust's stock valued at $431,000 after acquiring an additional 133 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Public Storage by 27.3% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,272 shares of the real estate investment trust's stock valued at $381,000 after acquiring an additional 273 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Public Storage by 15.4% during the 4th quarter. Principal Securities Inc. now owns 2,584 shares of the real estate investment trust's stock valued at $774,000 after acquiring an additional 344 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Mizuho lifted their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Evercore ISI lifted their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Bank of America lifted their price target on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Scotiabank lifted their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $339.25.

Public Storage Price Performance

Public Storage stock opened at $294.85 on Monday. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The firm has a 50 day moving average price of $297.10 and a 200 day moving average price of $300.46. The company has a market cap of $51.73 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 4.91 and a beta of 0.89. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $4.03 earnings per share. Public Storage's revenue was up .1% compared to the same quarter last year. Sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.07%. Public Storage's dividend payout ratio (DPR) is 119.17%.

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.

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