Public Storage $PSA Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. lifted its stake in shares of Public Storage (NYSE:PSA) by 30.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,952 shares of the real estate investment trust’s stock after purchasing an additional 20,477 shares during the period. Cibc World Market Inc.’s holdings in Public Storage were worth $25,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Public Storage in the 2nd quarter worth about $1,153,971,000. AQR Capital Management LLC lifted its position in shares of Public Storage by 498.7% in the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after acquiring an additional 481,872 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Public Storage in the second quarter worth approximately $94,297,000. 1832 Asset Management L.P. increased its position in shares of Public Storage by 375.7% during the second quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock worth $114,190,000 after purchasing an additional 307,357 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Public Storage by 1,158.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 153,878 shares of the real estate investment trust’s stock valued at $45,151,000 after purchasing an additional 141,651 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $293.72 on Thursday. The stock has a fifty day simple moving average of $274.35 and a 200-day simple moving average of $281.89. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The stock has a market cap of $51.54 billion, a PE ratio of 30.50, a P/E/G ratio of 9.90 and a beta of 1.01. Public Storage has a twelve month low of $256.54 and a twelve month high of $322.49.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSA shares. Royal Bank Of Canada lowered their target price on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a research report on Thursday, February 5th. Truist Financial increased their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Mizuho lowered their target price on Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Finally, Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $330.00 to $295.00 in a research report on Thursday, February 5th. Two investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $306.63.

About Public Storage

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.