Columbus Macro LLC Has $9.53 Million Position in Public Storage $PSA

Columbus Macro LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 35.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,739 shares of the real estate investment trust’s stock after purchasing an additional 9,691 shares during the quarter. Public Storage accounts for about 1.0% of Columbus Macro LLC’s portfolio, making the stock its 27th largest position. Columbus Macro LLC’s holdings in Public Storage were worth $9,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PSA. Cascade Investment Advisors Inc. lifted its stake in Public Storage by 3.1% in the 4th quarter. Cascade Investment Advisors Inc. now owns 4,649 shares of the real estate investment trust’s stock valued at $1,206,000 after purchasing an additional 140 shares during the last quarter. InTrack Investment Management Inc grew its stake in shares of Public Storage by 9.8% during the fourth quarter. InTrack Investment Management Inc now owns 2,579 shares of the real estate investment trust’s stock worth $669,000 after buying an additional 230 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of Public Storage by 3.6% during the fourth quarter. Capital Investment Advisors LLC now owns 38,372 shares of the real estate investment trust’s stock worth $9,957,000 after buying an additional 1,342 shares during the last quarter. Dakota Wealth Management acquired a new position in shares of Public Storage during the fourth quarter worth $1,201,000. Finally, Regatta Capital Group LLC increased its holdings in shares of Public Storage by 6.4% during the fourth quarter. Regatta Capital Group LLC now owns 6,993 shares of the real estate investment trust’s stock worth $1,815,000 after buying an additional 418 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSA shares. BNP Paribas Exane cut their price objective on Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. William Blair set a $305.00 target price on Public Storage in a report on Monday, March 16th. Mizuho dropped their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Barclays boosted their price target on Public Storage from $331.00 to $347.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $306.53.

Public Storage Stock Performance

Shares of Public Storage stock opened at $265.97 on Monday. The stock has a market cap of $46.68 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 5.47 and a beta of 0.99. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95. The company’s fifty day moving average is $290.29 and its 200 day moving average is $283.46. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 4.5%. Public Storage’s dividend payout ratio is presently 133.04%.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.