Public Storage (NYSE:PSA) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its position in Public Storage (NYSE:PSA) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,732 shares of the real estate investment trust’s stock after purchasing an additional 1,166 shares during the quarter. Edgestream Partners L.P.’s holdings in Public Storage were worth $2,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Public Storage in the 2nd quarter valued at about $32,000. Prospera Private Wealth LLC acquired a new position in Public Storage in the 3rd quarter valued at about $34,000. Opal Wealth Advisors LLC acquired a new position in Public Storage in the 2nd quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the 3rd quarter valued at about $38,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Public Storage in the 2nd quarter valued at approximately $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Down 0.9 %

Shares of NYSE:PSA opened at $348.05 on Monday. Public Storage has a 52 week low of $255.78 and a 52 week high of $369.99. The company’s 50 day moving average is $342.76 and its two-hundred day moving average is $319.51. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $60.95 billion, a PE ratio of 36.14, a P/E/G ratio of 5.79 and a beta of 0.70.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage’s dividend payout ratio is presently 124.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PSA shares. Royal Bank of Canada reduced their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research note on Monday, August 5th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Scotiabank boosted their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI cut their target price on shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $339.64.

Public Storage Company 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.