Royal Bank of Canada Boosts Stake in Public Storage Amid Strong Earnings

Royal Bank of Canada has increased its stake in Public Storage (NYSE:PSA) by 6.4% in the first quarter, acquiring an additional 53,366 shares worth $241 million.

The institutional investor now owns 0.51% of Public Storage's stock and is one of several institutions that have recently bought or sold shares of the real estate investment trust.

Public Storage reported a 44.9% year-over-year increase in second-quarter net income to $2.55 per diluted share, with total revenue reaching $1.23 billion broadly matching expectations.