Columbus Macro LLC Raises Stock Holdings in Public Storage $PSA

Key Points

• Columbus Macro LLC increased its investment in Public Storage (NYSE:PSA) by 9.0%, now holding 24,561 shares valued at approximately $7.21 million.
• Public Storage reported a $4.28 earnings per share (EPS) for the last quarter, exceeding analyst estimates by $0.05, alongside a revenue of $1.20 billion, marking a 2.4% year-over-year increase.
• The company declared a quarterly dividend of $3.00 per share, translating to an annualized yield of 4.1%, with a current dividend payout ratio of 130.86%.

Columbus Macro LLC grew its stake in Public Storage (NYSE:PSA - Free Report) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,561 shares of the real estate investment trust's stock after buying an additional 2,030 shares during the quarter. Columbus Macro LLC's holdings in Public Storage were worth $7,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSA. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage in the second quarter worth about $25,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage in the first quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the first quarter worth about $36,000. Wayfinding Financial LLC purchased a new stake in shares of Public Storage during the first quarter worth about $41,000. Finally, Rossby Financial LCC purchased a new stake in shares of Public Storage during the first quarter worth about $45,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Shares of PSA stock opened at $293.39 on Thursday. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $51.48 billion, a P/E ratio of 31.99, a P/E/G ratio of 4.87 and a beta of 0.89. The stock has a 50 day moving average price of $286.88 and a 200 day moving average price of $291.46.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $4.23 EPS. Public Storage's quarterly 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. As a group, sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank cut 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. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. BNP Paribas Exane assumed 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. Barclays cut their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada cut their target price on Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $322.92.

About Public Storage

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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