Edgestream Partners L.P. Has $4.70 Million Stake in Public Storage $PSA

Edgestream Partners L.P. decreased its holdings in Public Storage (NYSE:PSA) by 48.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,349 shares of the real estate investment trust’s stock after selling 16,533 shares during the quarter. Edgestream Partners L.P.’s holdings in Public Storage were worth $4,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC increased its stake in shares of Public Storage by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 34 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in Public Storage by 2.6% during the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after acquiring an additional 37 shares during the last quarter. Raiffeisen Bank International AG grew its holdings in Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 37 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in Public Storage by 0.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock worth $1,451,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $324.99 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 2.06. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The company has a market cap of $57.05 billion, a PE ratio of 31.01, a PEG ratio of 4.28 and a beta of 0.96. The company’s 50-day moving average is $317.75 and its two-hundred day moving average is $301.83.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 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 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s payout ratio is 114.50%.

Insider Buying and Selling at Public Storage

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PSA shares. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. BNP Paribas Exane increased their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Evercore set a $316.00 price target on shares of Public Storage in a report on Monday, July 6th. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. Finally, Citigroup upped their price objective on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $326.05.

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.