I was using a FormSheet style modal view, but in order to show more information, I am switching to a PageSheet. When I change my code to this:
targetController.modalPresentationStyle = UIModalPresentationPageSheet;
I get this (notice the top red bar is cut off):

Any ideas?
According to the documentation
UIModalPresentationPageSheetwill give you the height of the screen.This is different from the available height for the user interface. You can either hide the status bar, like:
and make the screen’s height equals to the available UI height or subtract the status bar height from your frame.