CIBC Asset Management Inc lessened its holdings in shares of Public Storage (NYSE:PSA) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,275 shares of the real estate investment trust’s stock after selling 3,161 shares during the quarter. CIBC Asset Management Inc’s holdings in Public Storage were worth $12,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Unigestion Holding SA purchased a new position in shares of Public Storage during the 2nd quarter worth $794,000. Norinchukin Bank The boosted its stake in shares of Public Storage by 24.4% during the 1st quarter. Norinchukin Bank The now owns 14,884 shares of the real estate investment trust’s stock worth $2,983,000 after acquiring an additional 2,917 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Public Storage by 32.0% during the 1st quarter. Toronto Dominion Bank now owns 85,630 shares of the real estate investment trust’s stock worth $17,156,000 after acquiring an additional 20,749 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Public Storage by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 985,884 shares of the real estate investment trust’s stock worth $197,562,000 after acquiring an additional 20,722 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Public Storage by 3.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 29,827 shares of the real estate investment trust’s stock worth $6,767,000 after acquiring an additional 905 shares during the last quarter. Institutional investors and hedge funds own 82.31% of the company’s stock.

Several research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Public Storage from $199.00 to $193.00 and set an “underweight” rating on the stock in a research note on Thursday, June 14th. BMO Capital Markets restated a “sell” rating and set a $194.00 target price on shares of Public Storage in a research note on Wednesday, August 1st. ValuEngine upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Argus lifted their target price on shares of Public Storage to $250.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. Finally, Citigroup lifted their target price on shares of Public Storage from $200.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, July 12th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Public Storage presently has an average rating of “Hold” and a consensus price target of $208.33.

PSA opened at $213.30 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 0.96. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $234.90. The firm has a market cap of $38.48 billion, a P/E ratio of 20.85, a PEG ratio of 4.23 and a beta of 0.26.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.61). Public Storage had a net margin of 55.00% and a return on equity of 30.37%. The firm had revenue of $685.50 million for the quarter, compared to analysts’ expectations of $686.32 million. During the same quarter last year, the firm posted $2.51 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. equities analysts expect that Public Storage will post 10.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 12th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, September 11th. Public Storage’s payout ratio is currently 78.20%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.

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

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