Quotient Investors LLC continued to hold its stake in shares of Public Storage (NYSE:PSA) during the second quarter, Holdings Channel reports. The firm owned 4,207 shares of the real estate investment trust’s stock at the end of the second quarter. Quotient Investors LLC’s holdings in Public Storage were worth $921,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PSA. Hanson McClain Inc. raised its stake 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 valued at $150,000 after buying an additional 2 shares during the period. Quadrant Capital Group LLC raised its stake 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 valued at $130,000 after buying an additional 3 shares during the period. Merriman Wealth Management LLC raised its stake 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 valued at $419,000 after buying an additional 5 shares during the period. Guardian Life Insurance Co. of America raised 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 valued at $126,000 after buying an additional 5 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Public Storage by 0.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 79.54% of the company’s stock.

Public Storage (NYSE:PSA) traded up 0.68% during trading on Friday, reaching $208.94. 439,521 shares of the company were exchanged. Public Storage has a 12 month low of $200.65 and a 12 month high of $255.21. The firm has a market capitalization of $36.32 billion, a PE ratio of 29.68 and a beta of 0.41. The stock has a 50 day moving average price of $209.22 and a 200 day moving average price of $217.16.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by $0.05. Public Storage had a return on equity of 27.74% and a net margin of 54.13%. The firm had revenue of $645.55 million for the quarter, compared to analyst estimates of $615.23 million. During the same period in the prior year, the business earned $2.21 earnings per share. Public Storage’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that Public Storage will post $7.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th were paid a dividend of $2.00 per share. The ex-dividend date was Monday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.83%. Public Storage’s dividend payout ratio is currently 113.64%.

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Several analysts have recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $222.00 target price on shares of Public Storage in a research report on Friday, July 14th. Bank of America Corporation dropped their target price on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research report on Thursday. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Cantor Fitzgerald dropped their target price on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating on the stock in a research report on Monday, May 22nd. Finally, BidaskClub upgraded shares of Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Public Storage currently has a consensus rating of “Hold” and a consensus target price of $224.67.

In other Public Storage news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total transaction of $12,426,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.42% of the stock is owned by company 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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