Edgestream Partners L.P. Has $7.31 Million Holdings in Public Storage (NYSE:PSA)

Edgestream Partners L.P. lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 459.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,423 shares of the real estate investment trust's stock after buying an additional 20,058 shares during the quarter. Edgestream Partners L.P.'s holdings in Public Storage were worth $7,310,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MQS Management LLC acquired a new stake in Public Storage in the 1st quarter valued at about $1,547,000. Isthmus Partners LLC increased its stake in shares of Public Storage by 1.4% during the 1st quarter. Isthmus Partners LLC now owns 41,958 shares of the real estate investment trust's stock worth $12,558,000 after purchasing an additional 573 shares in the last quarter. Whitener Capital Management Inc. raised its position in shares of Public Storage by 6.0% during the 1st quarter. Whitener Capital Management Inc. now owns 1,574 shares of the real estate investment trust's stock worth $471,000 after purchasing an additional 89 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in Public Storage by 2.9% during the 1st quarter. Schechter Investment Advisors LLC now owns 1,619 shares of the real estate investment trust's stock valued at $485,000 after buying an additional 46 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Public Storage by 2.6% during the first quarter. Arizona State Retirement System now owns 46,270 shares of the real estate investment trust's stock worth $13,848,000 after buying an additional 1,156 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 0.5%

PSA traded up $1.45 during trading on Wednesday, hitting $285.36. The company had a trading volume of 982,643 shares, compared to its average volume of 764,913. The business has a 50-day moving average of $297.38 and a 200-day moving average of $296.58. The company has a market cap of $50.06 billion, a PE ratio of 28.34, a P/E/G ratio of 4.11 and a beta of 0.86. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the prior year, the firm posted $4.03 earnings per share. Public Storage's revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's dividend payout ratio is presently 119.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSA. Evercore ISI boosted their price target on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Bank of America upped their target price on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research report on Thursday, April 10th. Mizuho lifted their price target on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Finally, BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $337.64.

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.