State Treasurer State of Michigan grew its stake in Public Storage (NYSE:PSA) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,377 shares of the real estate investment trust’s stock after buying an additional 300 shares during the quarter. State Treasurer State of Michigan’s holdings in Public Storage were worth $10,067,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Public Storage by 14.7% in the first quarter. JPMorgan Chase & Co. now owns 3,962,477 shares of the real estate investment trust’s stock worth $794,040,000 after purchasing an additional 507,928 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Public Storage by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,331,805 shares of the real estate investment trust’s stock worth $528,994,000 after purchasing an additional 22,925 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Public Storage by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,267,463 shares of the real estate investment trust’s stock worth $454,377,000 after purchasing an additional 89,281 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Public Storage by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 1,579,391 shares of the real estate investment trust’s stock worth $358,300,000 after purchasing an additional 50,027 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of Public Storage by 12.1% in the first quarter. Federated Investors Inc. PA now owns 1,533,449 shares of the real estate investment trust’s stock worth $307,288,000 after purchasing an additional 165,161 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on PSA. Barclays reissued a “hold” rating and issued a $208.00 price objective on shares of Public Storage in a research report on Wednesday, August 8th. BMO Capital Markets reaffirmed a “sell” rating and set a $194.00 price target on shares of Public Storage in a research report on Wednesday, August 1st. Argus upped their price target on shares of Public Storage to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Evercore ISI lowered shares of Public Storage from an “in-line” rating to an “underperform” rating and set a $217.00 price target on the stock. in a research report on Monday, July 16th. They noted that the move was a valuation call. Finally, Citigroup upped their price target on shares of Public Storage from $200.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, July 12th. Six investment 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. The stock has a consensus rating of “Hold” and a consensus target price of $208.33.

NYSE PSA opened at $223.57 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 1 year low of $180.48 and a 1 year high of $234.90. The firm has a market cap of $37.41 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.11 and a beta of 0.26.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.61 by ($0.61). Public Storage had a return on equity of 30.37% and a net margin of 55.00%. The firm had revenue of $685.50 million for the quarter, compared to the consensus estimate of $686.32 million. During the same period last year, the company posted $2.51 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. equities research analysts anticipate that Public Storage will post 10.53 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 12th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, September 11th. Public Storage’s payout ratio is presently 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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