Edgestream Partners Lowers stake in Public Storage (PSA)

Public Storage (PSA) : Edgestream Partners reduced its stake in Public Storage by 36.46% during the most recent quarter end. The investment management company now holds a total of 5,168 shares of Public Storage which is valued at $1,189,519 after selling 2,965 shares in Public Storage , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Public Storage makes up approximately 1.57% of Edgestream Partners’s portfolio.

Other Hedge Funds, Including , Capital Growth Management Lp sold out all of its stake in PSA during the most recent quarter. The investment firm sold 183,500 shares of PSA which is valued $42,236,195. Brown Advisory Inc added PSA to its portfolio by purchasing 782 company shares during the most recent quarter which is valued at $180,251.Princeton Alpha Management Lp boosted its stake in PSA in the latest quarter, The investment management firm added 5,923 additional shares and now holds a total of 7,505 shares of Public Storage which is valued at $1,746,864. Public Storage makes up approx 0.30% of Princeton Alpha Management Lp’s portfolio. Capital Fund Management S.a. added PSA to its portfolio by purchasing 175,640 company shares during the most recent quarter which is valued at $43,590,335. Public Storage makes up approx 0.75% of Capital Fund Management S.a.’s portfolio.

Public Storage opened for trading at $224.59 and hit $226.34 on the upside on Monday, eventually ending the session at $225.74, with a gain of 0.78% or 1.74 points. The heightened volatility saw the trading volume jump to 6,29,521 shares. Company has a market cap of $39,144 M.

On the company’s financial health, Public Storage reported $2.40 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $2.40. The company had revenue of $594.39 million for the quarter, compared to analysts expectations of $594.83 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS.

Investors should note that on Jul 27, 2016, Public Storage announced a cash dividend of $1.8000. The company’s management has announced Sep 12, 2016 as the ex-dividend date and fixed the record date on Sep 14, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on Public Storage. Public Storage was Downgraded by BofA/Merrill to ” Neutral” on Aug 11, 2016. Public Storage was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Jul 15, 2016. Public Storage was Initiated by FBR Capital to “Mkt Perform” on Jun 23, 2016.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage European Self-Storage and Commercial. The Trust acquires develops owns and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.

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