Pggm Investments buys $358,340,153 stake in Public Storage (PSA)

Public Storage (PSA) : Pggm Investments scooped up 1,217 additional shares in Public Storage during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 1,443,872 shares of Public Storage which is valued at $358,340,153.Public Storage makes up approximately 1.78% of Pggm Investments’s portfolio.

Other Hedge Funds, Including , Strs Ohio reduced its stake in PSA by selling 4,358 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 310,378 shares of PSA which is valued at $77,029,612. Public Storage makes up approx 0.33% of Strs Ohio’s portfolio.Cibc World Markets reduced its stake in PSA by selling 281 shares or 4.32% in the most recent quarter. The Hedge Fund company now holds 6,228 shares of PSA which is valued at $1,580,293. Public Storage makes up approx 0.01% of Cibc World Markets’s portfolio.Ibm Retirement Fund boosted its stake in PSA in the latest quarter, The investment management firm added 479 additional shares and now holds a total of 19,371 shares of Public Storage which is valued at $4,915,198. Public Storage makes up approx 0.18% of Ibm Retirement Fund’s portfolio.American Investment Services reduced its stake in PSA by selling 486 shares or 11.13% in the most recent quarter. The Hedge Fund company now holds 3,881 shares of PSA which is valued at $995,282. Public Storage makes up approx 0.42% of American Investment Services’s portfolio.

Public Storage opened for trading at $238.51 and hit $243.9376 on the upside on Friday, eventually ending the session at $238.92, with a gain of 0.13% or 0.3 points. The heightened volatility saw the trading volume jump to 13,65,076 shares. Company has a market cap of $41,424 M.

On the company’s financial health, Public Storage reported $2.40 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $2.40. The company had revenue of $594.39 million for the quarter, compared to analysts expectations of $594.83 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS.

Many Wall Street Analysts have commented on Public Storage. Public Storage was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Jul 15, 2016. Public Storage was Initiated by FBR Capital to “Mkt Perform” on Jun 23, 2016. Company shares were Reiterated by RBC Capital Mkts on May 11, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 243 from a previous price target of $235 .

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage European Self-Storage and Commercial. The Trust acquires develops owns and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.

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