Columbus Macro LLC Acquires 17,284 Shares of Public Storage (NYSE:PSA)

Columbus Macro LLC increased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 419.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,404 shares of the real estate investment trust's stock after purchasing an additional 17,284 shares during the quarter. Columbus Macro LLC's holdings in Public Storage were worth $6,409,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Petredis Investment Advisors LLC boosted its holdings in Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock valued at $2,497,000 after purchasing an additional 30 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Public Storage by 3.8% during the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock valued at $300,000 after buying an additional 30 shares during the last quarter. Haverford Trust Co boosted its stake in shares of Public Storage by 0.7% during the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock valued at $1,558,000 after buying an additional 30 shares during the last quarter. Huntington National Bank raised its holdings in Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 33 shares in the last quarter. Finally, Chesapeake Wealth Management grew its holdings in Public Storage by 2.2% during the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock worth $560,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares of the company's stock, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research reports. Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company lowered their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $344.54.

Public Storage Price Performance

Shares of NYSE:PSA traded down $0.40 on Friday, hitting $302.48. The stock had a trading volume of 420,567 shares, compared to its average volume of 696,143. The firm's 50 day moving average price is $305.00 and its 200-day moving average price is $325.44. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market capitalization of $52.97 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. 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 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.