Aberdeen Group plc Cuts Stake in Public Storage $PSA

Aberdeen Group plc cut its holdings in shares of Public Storage (NYSE:PSAFree Report) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 346,180 shares of the real estate investment trust’s stock after selling 14,043 shares during the quarter. Aberdeen Group plc owned 0.20% of Public Storage worth $99,883,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSA. Patrick M Sweeney & Associates Inc. lifted its position in Public Storage by 3.5% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 36 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Public Storage by 7.0% in the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 37 shares during the period. Evermay Wealth Management LLC raised its stake in shares of Public Storage by 13.3% in the second quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 38 shares during the period. KCM Investment Advisors LLC lifted its holdings in shares of Public Storage by 2.9% in the 2nd quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock worth $396,000 after acquiring an additional 38 shares during the last quarter. Finally, Cape ANN Savings Bank boosted its stake in shares of Public Storage by 1.4% during the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock worth $807,000 after purchasing an additional 38 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PSA. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a research report on Thursday, February 5th. Mizuho cut their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $301.00 price objective (down previously from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Raymond James Financial dropped their target price on shares of 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, The Goldman Sachs Group reduced their target price 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 equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $306.63.

Check Out Our Latest Stock Analysis on PSA

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Public Storage Price Performance

NYSE PSA opened at $300.55 on Monday. The company has a market cap of $52.73 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 10.24 and a beta of 1.01. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s fifty day moving average price is $275.29 and its 200 day moving average price is $281.95. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49.

Public Storage Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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