Canada Post Corp Registered Pension Plan Sells 1,909 Shares of Public Storage $PSA

Canada Post Corp Registered Pension Plan reduced its stake in Public Storage (NYSE:PSA) by 19.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,866 shares of the real estate investment trust’s stock after selling 1,909 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Public Storage were worth $2,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PSA. Vanguard Group Inc. boosted its stake in Public Storage by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock worth $6,107,677,000 after purchasing an additional 79,580 shares during the period. State Street Corp boosted its position in shares of Public Storage by 1.2% in the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock valued at $3,114,303,000 after acquiring an additional 126,113 shares during the period. Norges Bank purchased a new position in Public Storage during the second quarter valued at approximately $1,153,971,000. JPMorgan Chase & Co. increased its holdings in Public Storage by 3.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,157,067 shares of the real estate investment trust’s stock worth $926,357,000 after acquiring an additional 103,965 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Public Storage by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock worth $857,674,000 after acquiring an additional 87,918 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on PSA shares. Evercore cut their price target on shares of Public Storage from $309.00 to $305.00 in a report on Monday, January 12th. Morgan Stanley began coverage on Public Storage in a research report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price objective on the stock. Wolfe Research lowered Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Raymond James Financial decreased their target price on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage presently has an average rating of “Hold” and a consensus target price of $306.63.

Public Storage Stock Up 1.5%

PSA opened at $287.05 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The business’s fifty day simple moving average is $273.30 and its 200 day simple moving average is $281.82. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The stock has a market cap of $50.37 billion, a PE ratio of 29.81, a P/E/G ratio of 7.47 and a beta of 1.01.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.