Highland Capital Management LLC Buys New Position in Public Storage

Gulf International Bank UK Ltd now owns 46,110 shares of the real estate investment trust's stock valued at $10,093,000 after buying an additional 600 shares in the last quarter. US Bancorp DE's holdings in Life Storage were worth $964,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. CENTRAL TRUST Co increased its stake in shares of Public Storage by 41.3% in the second quarter. The Gofen & Glossberg Llc holds 47,190 shares with $10.55 million value, up from 42,183 last quarter. Finally, Capital Management Corp VA increased its stake in shares of Life Storage by 0.8% in the second quarter. BlackRock Inc. now owns 11,742,847 shares of the real estate investment trust's stock valued at $873,550,000 after buying an additional 11,264,744 shares during the last quarter.

As of quarter end Schroder Investment Management Group had acquired 17,604 shares growing its stake by 28.7%. BB&T Securities LLC now owns 7,089 shares of the real estate investment trust's stock worth $525,000 after buying an additional 228 shares in the last quarter. Merriman Wealth Management LLC now owns 1,915 shares of the real estate investment trust's stock worth $419,000 after buying an additional 5 shares during the last quarter. Creative Planning boosted its stake in Life Storage by 2.6% in the first quarter. Mascoma Wealth Management LLC now owns 456 shares of the real estate investment trust's stock worth $100,000 after buying an additional 256 shares in the last quarter. (NYSE LSI) traded down 0.27% during midday trading on Thursday, hitting $72.77. The company's stock had a trading volume of 120,298 shares. Life Storage, has a 1 year low of $69.00 has a 1 year high of $95.05. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. The stock has a market cap of $34.95 billion, a price-to-earnings ratio of 28.66 and a beta of 0.41.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, August 1st. Life Storage had a net margin of 15.72% and a return on equity of 3.68%. The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. During the same quarter previous year, the business posted $2.40 earnings per share. The business's revenue was up 24.1% compared to the same quarter previous year. Next quarter's EPS is forecasted at $2.01 with next year's EPS anticipated to be $7.88. If you are accessing this report on another site, it was stolen and republished in violation of United States & worldwide copyright & trademark law. If you are reading this report on another domain, it was illegally stolen and republished in violation of US and global trademark & copyright legislation. Sumitomo Mitsui Asset Management Company LTD boosted its position in Public Storage by 83.6% in the first quarter.

A number of research analysts recently issued reports on PSA shares. Zacks Investment Research cut Life Storage from a "hold" rating to a "sell" rating in a research note on Monday, April 24th. Jefferies Group LLC restated a "hold" rating and set a $222.00 price objective on shares of Public Storage in a research report on Friday, July 14th. Barclays Capital maintained Public Storage (NYSE:PSA) on Tuesday, July 18 with "Equal-Weight" rating. Finally, Bank of America Corporation dropped their target price on Public Storage from $222.00 to $218.00 and set a "neutral" rating for the company in a report on Thursday, July 20th. 1 investment expert has recommended the share with a sell recommendation, twelve have published a hold recommendation and two have issued a buy recommendation to the firms shares. the share has a average recommendation of "Hold" and an average price target of $85.00. The company now has an average rating of "Hold" and an average target price of $221.64.

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In other Public Storage news, Director Ronald P. Spogli bought 2,000 shares of the company's stock in a transaction on Thursday, August 3rd. Institutional investors own 78.87% of the company's stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

In other news, insider John Reyes sold 60,000 shares of the company's stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average price of $200.59 per share, with a total value of $401,180.00.

About 202,488 shares traded. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 63,900 shares of company stock worth $4,957,788.

Public Storage is a real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States.

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