Motco boosted its position in Public Storage (NYSE:PSA) by 13.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,440 shares of the real estate investment trust’s stock after buying an additional 295 shares during the period. Motco’s holdings in Public Storage were worth $509,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PSA. Hanson McClain Inc. raised 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 period. Guardian Life Insurance Co. of America increased its stake 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 in the last quarter. Diamond Hill Capital Management Inc. increased its stake 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 in the last quarter. Merriman Wealth Management LLC increased its stake in shares of Public Storage by 0.3% in the second quarter. Merriman Wealth Management LLC now owns 1,920 shares of the real estate investment trust’s stock worth $400,000 after buying an additional 5 shares in the last quarter. Finally, Concorde Asset Management LLC increased its stake in shares of Public Storage by 0.3% in the second quarter. Concorde Asset Management LLC now owns 2,511 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 8 shares in the last quarter. Institutional investors own 80.21% of the company’s stock.

Shares of Public Storage (NYSE PSA) opened at 205.57 on Wednesday. Public Storage has a one year low of $192.15 and a one year high of $232.21. The firm has a market cap of $35.77 billion, a P/E ratio of 29.33 and a beta of 0.41. The firm has a 50 day moving average price of $203.47 and a 200-day moving average price of $214.06.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS 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 the consensus estimate 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 quarter in the previous year, the business earned $2.40 earnings per share. Analysts forecast 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 given a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.89%. Public Storage’s payout ratio is 113.96%.

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A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Jefferies Group LLC set a $210.00 price target on Public Storage and gave the stock a “hold” rating in a research report on Thursday, August 17th. Argus reduced their price target on Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, August 1st. BidaskClub downgraded Public Storage from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation reduced their price target on Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research report on Thursday, July 20th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Public Storage currently has a consensus rating of “Hold” and a consensus target price of $219.80.

In other Public Storage news, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronald P. Spogli purchased 2,000 shares of Public Storage stock in a transaction on 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 disclosure for this purchase can be found here. 14.42% of the stock is owned by company insiders.

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.

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

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