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

Canada Post Corp Registered Pension Plan trimmed its holdings in Public Storage (NYSE:PSA) by 19.5% in the third quarter, HoldingsChannel reports. The fund 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 quarter.

A number of other institutional investors also recently made changes to their positions in PSA. National Pension Service grew its position in shares of Public Storage by 4.2% in the 3rd quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock worth $73,743,000 after buying an additional 10,345 shares during the period. Cornerstone Planning Group LLC boosted its stake in Public Storage by 14,992.3% during the third quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock worth $3,400,000 after acquiring an additional 11,694 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Public Storage by 19.9% in the third quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock worth $11,766,000 after purchasing an additional 6,814 shares during the period. Vanderbilt University grew its holdings in Public Storage by 103.1% in the third quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock worth $2,632,000 after purchasing an additional 4,626 shares during the period. Finally, Paralel Advisors LLC bought a new position in shares of Public Storage during the third quarter valued at approximately $1,069,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 1.5%

Shares of NYSE:PSA opened at $287.05 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The company has a market cap of $50.37 billion, a P/E ratio of 29.81, a PEG ratio of 7.47 and a beta of 1.01. The stock’s fifty day moving average price is $273.30 and its 200-day moving average price is $281.82.

Analysts Set New Price Targets

Several analysts recently weighed in on PSA shares. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. BMO Capital Markets dropped their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. Mizuho lowered their price target on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, The Goldman Sachs Group cut their price objective on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $306.63.

Public Storage 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.