Columbus Macro LLC Purchases 9,691 Shares of Public Storage $PSA

Columbus Macro LLC raised its position in Public Storage (NYSE:PSA) by 35.8% during the fourth quarter, Holdings Channel reports. The firm owned 36,739 shares of the real estate investment trust’s stock after purchasing an additional 9,691 shares during the period. Public Storage comprises 1.0% of Columbus Macro LLC’s portfolio, making the stock its 27th largest holding. Columbus Macro LLC’s holdings in Public Storage were worth $9,534,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PSA. CoreCap Advisors LLC increased its position in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 37 shares during the period. Cape ANN Savings Bank lifted its holdings in Public Storage by 1.4% in the third quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock valued at $807,000 after buying an additional 38 shares during the period. Doliver Advisors LP boosted its position in Public Storage by 1.0% during the fourth quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock valued at $1,071,000 after acquiring an additional 39 shares during the last quarter. Covestor Ltd boosted its position in Public Storage by 9.4% during the third quarter. Covestor Ltd now owns 467 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 40 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Public Storage by 2.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust’s stock worth $504,000 after acquiring an additional 40 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Shares of Public Storage stock opened at $265.97 on Monday. Public Storage has a one year low of $256.54 and a one year high of $312.95. The firm has a market capitalization of $46.68 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 5.47 and a beta of 0.99. The business has a 50-day simple moving average of $290.29 and a 200 day simple moving average of $283.46. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is 133.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSA. The Goldman Sachs Group reissued a “buy” rating and issued a $330.00 price objective on shares of Public Storage in a research note on Friday, February 20th. UBS Group lowered their target price on Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Finally, Truist Financial lifted their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $306.53.

About Public Storage

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.