CIBC World Markets Inc. lessened its holdings in shares of Public Storage (NYSE:PSA) by 41.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,462 shares of the real estate investment trust’s stock after selling 3,910 shares during the period. CIBC World Markets Inc.’s holdings in Public Storage were worth $1,139,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BlackRock Inc. lifted its holdings in Public Storage by 2,552.4% in the first quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock valued at $3,101,367,000 after buying an additional 13,633,185 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Public Storage by 87.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,477,786 shares of the real estate investment trust’s stock valued at $323,502,000 after buying an additional 688,042 shares during the period. JPMorgan Chase & Co. lifted its holdings in Public Storage by 20.5% in the second quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock valued at $659,280,000 after buying an additional 537,289 shares during the period. Federated Investors Inc. PA lifted its holdings in Public Storage by 8,357.4% in the second quarter. Federated Investors Inc. PA now owns 450,439 shares of the real estate investment trust’s stock valued at $93,930,000 after buying an additional 445,113 shares during the period. Finally, Morgan Stanley lifted its holdings in Public Storage by 16.3% in the first quarter. Morgan Stanley now owns 2,751,504 shares of the real estate investment trust’s stock valued at $602,333,000 after buying an additional 385,136 shares during the period. Institutional investors own 80.22% of the company’s stock.

Shares of Public Storage (PSA) opened at 214.15 on Friday. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The firm has a 50-day moving average of $204.54 and a 200 day moving average of $212.77. The company has a market capitalization of $37.26 billion, a P/E ratio of 30.55 and a beta of 0.42.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.95). The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 EPS. On average, equities research analysts expect that Public Storage will post $7.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be given a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.74%. Public Storage’s dividend payout ratio is 113.96%.

PSA has been the topic of several recent analyst reports. Argus dropped their target price on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, August 1st. Barclays PLC dropped their target price on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and issued a $222.00 target price on shares of Public Storage in a report on Friday, July 14th. Finally, Bank of America Corporation dropped their target price on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a report on Thursday, July 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Public Storage has a consensus rating of “Hold” and an average price target of $214.91.

In related news, Director Ronald P. Spogli bought 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $200.59 per share, with a total value of $401,180.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 14.42% of the company’s stock.

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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.

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

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