CCM Investment Advisers LLC increased its stake in Public Storage (NYSE:PSA) by 16.2% during the second quarter, Holdings Channel reports. The fund owned 25,810 shares of the real estate investment trust’s stock after buying an additional 3,602 shares during the period. CCM Investment Advisers LLC’s holdings in Public Storage were worth $5,382,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. increased its position in Public Storage by 26.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,980 shares of the real estate investment trust’s stock worth $2,404,000 after buying an additional 2,312 shares in the last quarter. Retirement Systems of Alabama increased its position in Public Storage by 2.1% in the first quarter. Retirement Systems of Alabama now owns 72,182 shares of the real estate investment trust’s stock worth $15,801,000 after buying an additional 1,485 shares in the last quarter. Motco increased its position in Public Storage by 6.2% in the first quarter. Motco now owns 2,145 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 126 shares in the last quarter. State of Alaska Department of Revenue increased its position in Public Storage by 48.2% in the first quarter. State of Alaska Department of Revenue now owns 78,471 shares of the real estate investment trust’s stock worth $17,177,000 after buying an additional 25,521 shares in the last quarter. Finally, LGT Capital Partners LTD. increased its position in Public Storage by 5.2% in the first quarter. LGT Capital Partners LTD. now owns 27,900 shares of the real estate investment trust’s stock worth $6,108,000 after buying an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 78.87% of the company’s stock.

Public Storage (NYSE:PSA) opened at 198.63 on Friday. The firm has a 50-day moving average of $205.76 and a 200-day moving average of $215.18. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The stock has a market cap of $34.56 billion, a PE ratio of 28.34 and a beta of 0.41.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.96%.

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A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Bank of America Corporation decreased their target price on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research report on Thursday, July 20th. Jefferies Group LLC restated a “hold” rating and set a $222.00 target price on shares of Public Storage in a research report on Friday, July 14th. 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. Finally, BidaskClub upgraded shares of Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $221.64.

In other news, Director Ronald P. Spogli bought 2,000 shares of Public Storage stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $207.11, for a total transaction of $12,426,600.00. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by company insiders.

About Public Storage

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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