Los Angeles Capital Management & Equity Research Inc. decreased its holdings in shares of Public Storage (NYSE:PSA) by 69.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,741 shares of the real estate investment trust’s stock after selling 82,132 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Public Storage were worth $7,662,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PSA. BlackRock Inc. increased its stake in Public Storage by 2,552.4% during 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 purchasing an additional 13,633,185 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Public Storage by 87.1% during 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 purchasing an additional 688,042 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Public Storage by 20.5% during 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 purchasing an additional 537,289 shares during the last quarter. Federated Investors Inc. PA increased its stake in Public Storage by 8,357.4% during 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 purchasing an additional 445,113 shares during the last quarter. Finally, Morgan Stanley increased its stake in Public Storage by 16.3% during 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 purchasing an additional 385,136 shares during the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.

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In other news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $207.11, for a total transaction of $12,426,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronald P. Spogli purchased 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost 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 currently owned by company insiders.

Shares of Public Storage (NYSE:PSA) opened at 218.31 on Monday. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The firm has a market cap of $37.99 billion, a P/E ratio of 31.14 and a beta of 0.42. The company has a 50-day moving average of $203.90 and a 200 day moving average of $213.35.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is currently 113.96%.

Several research firms have weighed in on PSA. Barclays PLC lowered their target price on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. BidaskClub raised shares of Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Jefferies Group LLC set a $210.00 price target on shares of Public Storage and gave the company a “hold” rating in a report on Thursday, August 17th. Finally, Argus reduced their price target on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $219.80.

Public Storage 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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