Columbus Macro LLC Sells 4,288 Shares of Public Storage $PSA

Columbus Macro LLC trimmed its stake in Public Storage (NYSE:PSA) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,451 shares of the real estate investment trust’s stock after selling 4,288 shares during the quarter. Columbus Macro LLC’s holdings in Public Storage were worth $8,790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. OLD National Bancorp IN increased its stake in shares of Public Storage by 4.1% during the 1st quarter. OLD National Bancorp IN now owns 34,808 shares of the real estate investment trust’s stock worth $9,429,000 after purchasing an additional 1,378 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Public Storage in the first quarter valued at approximately $2,167,000. Kestra Private Wealth Services LLC grew its holdings in Public Storage by 72.2% during the first quarter. Kestra Private Wealth Services LLC now owns 7,526 shares of the real estate investment trust’s stock valued at $2,039,000 after purchasing an additional 3,155 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Public Storage by 12.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,487 shares of the real estate investment trust’s stock valued at $674,000 after purchasing an additional 266 shares during the period. Finally, OP Asset Management Ltd purchased a new stake in Public Storage in the first quarter worth $7,698,000. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSA has been the topic of a number of recent research reports. Evercore upped their price target on Public Storage from $317.00 to $318.00 in a research report on Tuesday. William Blair set a $305.00 price objective on Public Storage in a report on Monday, March 16th. Barclays lowered their price objective on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $324.68.

Public Storage Price Performance

PSA stock opened at $319.75 on Friday. The firm has a 50 day moving average of $308.71 and a 200-day moving average of $291.73. The firm has a market capitalization of $56.13 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.98. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $4.12 EPS. Public Storage’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, sell-side analysts predict that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage’s dividend payout ratio is presently 123.84%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.10% of the company’s stock.

Public Storage Company 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.