Dimensional Fund Advisors Lp buys $494.8 Million stake in Public Storage (PSA)

Public Storage (PSA) : Dimensional Fund Advisors Lp scooped up 23,353 additional shares in Public Storage during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,889,357 shares of Public Storage which is valued at $494.8 Million.Public Storage makes up approximately 0.30% of Dimensional Fund Advisors Lp’s portfolio.

Other Hedge Funds, Including , Dekabank Deutsche Girozentrale boosted its stake in PSA in the latest quarter, The investment management firm added 10,910 additional shares and now holds a total of 34,534 shares of Public Storage which is valued at $9 Million. Public Storage makes up approx 0.11% of Dekabank Deutsche Girozentrale’s portfolio.Thrivent Financial For Lutherans boosted its stake in PSA in the latest quarter, The investment management firm added 3,080 additional shares and now holds a total of 68,305 shares of Public Storage which is valued at $17.9 Million. Public Storage makes up approx 0.09% of Thrivent Financial For Lutherans’s portfolio.Ftb Advisors boosted its stake in PSA in the latest quarter, The investment management firm added 123 additional shares and now holds a total of 332 shares of Public Storage which is valued at $86,947. Public Storage makes up approx 0.01% of Ftb Advisors’s portfolio.Harel Insurance Investments Financial Services Ltd. boosted its stake in PSA in the latest quarter, The investment management firm added 70 additional shares and now holds a total of 220 shares of Public Storage which is valued at $57,928. Public Storage makes up approx 0.01% of Harel Insurance Investments Financial Services Ltd.’s portfolio.

Public Storage closed down -1.05 points or -0.41% at $253.34 with 6,25,322 shares getting traded on Wednesday. Post opening the session at $254.38, the shares hit an intraday low of $251.45 and an intraday high of $254.915 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Public Storage reported $2.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $2.19. The company had revenue of $611.80 million for the quarter, compared to analysts expectations of $573.24 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS.

Investors should note that on Apr 26, 2016, Public Storage announced a cash dividend of $1.8000. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Public Storage. 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 .Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 253 from a previous price target of $251 .Public Storage was Downgraded by Goldman to ” Sell” on Apr 25, 2016.

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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