IFP Advisors Inc boosted its stake in Public Storage (NYSE:PSA) by 36.9% during the second quarter, Holdings Channel reports. The firm owned 12,412 shares of the real estate investment trust’s stock after buying an additional 3,348 shares during the period. IFP Advisors Inc’s holdings in Public Storage were worth $2,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Chevy Chase Trust Holdings Inc. boosted its position in Public Storage by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 128,787 shares of the real estate investment trust’s stock valued at $28,193,000 after buying an additional 4,148 shares during the period. Creative Planning boosted its position in Public Storage by 0.3% in the first quarter. Creative Planning now owns 9,099 shares of the real estate investment trust’s stock valued at $1,992,000 after buying an additional 25 shares during the period. Gulf International Bank UK Ltd boosted its position in Public Storage by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 46,110 shares of the real estate investment trust’s stock valued at $10,093,000 after buying an additional 600 shares during the period. Union Bankshares Corp boosted its position in Public Storage by 1.9% in the first quarter. Union Bankshares Corp now owns 15,847 shares of the real estate investment trust’s stock valued at $3,469,000 after buying an additional 301 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Public Storage by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 629 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 78.87% of the company’s stock.

Public Storage (NYSE PSA) opened at 201.49 on Monday. The company has a market capitalization of $35.06 billion, a PE ratio of 28.74 and a beta of 0.41. Public Storage has a 12-month low of $192.15 and a 12-month high of $234.61. The stock has a 50 day moving average of $208.20 and a 200 day moving average of $216.10.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the consensus estimate of $2.54 by $0.95. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 EPS. On average, equities research analysts predict that Public Storage will post $7.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, September 12th. Public Storage’s payout ratio is presently 113.96%.

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PSA has been the subject of several recent analyst reports. Barclays PLC upped their target price on shares of Public Storage from $222.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Zacks Investment Research cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Cantor Fitzgerald decreased their target price on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research report on Monday, May 22nd. BidaskClub upgraded shares of Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $222.00 target price on shares of Public Storage in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Public Storage has a consensus rating of “Hold” and an average price target of $221.64.

In other Public Storage news, insider John Reyes sold 65,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $208.44, for a total value of $13,548,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald P. Spogli acquired 2,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $200.59 per share, with a total value of $401,180.00. The disclosure for this purchase can be found here. Company insiders own 14.42% of the company’s stock.

Public Storage Company Profile

Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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