Candriam Luxembourg S.C.A. raised its position in shares of Public Storage (NYSE:PSA) by 6.4% during the second quarter, Holdings Channel reports. The fund owned 11,681 shares of the real estate investment trust’s stock after buying an additional 701 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Public Storage were worth $2,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PSA. Hanson McClain Inc. boosted its position in shares of Public Storage by 0.3% in the first quarter. Hanson McClain Inc. now owns 685 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of 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 worth $130,000 after buying an additional 3 shares during the last quarter. Merriman Wealth Management LLC boosted its position in shares of Public Storage by 0.3% in the first quarter. Merriman Wealth Management LLC now owns 1,915 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 5 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 5 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Public Storage by 0.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock worth $348,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 78.87% of the company’s stock.

Public Storage (NYSE:PSA) opened at 200.88 on Thursday. The stock has a market cap of $34.95 billion, a price-to-earnings ratio of 28.66 and a beta of 0.41. Public Storage has a 12 month low of $192.15 and a 12 month high of $233.39. The firm’s 50-day moving average price is $206.45 and its 200 day moving average price is $215.43.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by $0.95. The firm 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 firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.40 earnings per share. On average, analysts anticipate that Public Storage will post $7.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Tuesday, September 12th. Public Storage’s dividend payout ratio is presently 113.96%.

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A number of analysts have recently weighed in on PSA shares. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Bank of America Corporation dropped their price objective on Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Jefferies Group LLC reissued a “hold” rating and set a $222.00 price objective on shares of Public Storage in a research note on Friday, July 14th. Cantor Fitzgerald dropped their price objective on Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, May 22nd. Finally, BidaskClub raised Public Storage from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Public Storage presently has an average rating of “Hold” and a consensus target price of $221.64.

In other news, Director Ronald P. Spogli acquired 2,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Reyes sold 65,000 shares of the 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 disclosure for this sale can be found here. 14.42% of the stock is currently owned by corporate 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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