Ontario Teachers Pension Plan Board Reduces Position in Public Storage $PSA

Ontario Teachers Pension Plan Board trimmed its holdings in Public Storage (NYSE:PSA) by 63.3% in the third quarter, Holdings Channel reports. The institutional investor owned 7,726 shares of the real estate investment trust’s stock after selling 13,348 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Public Storage were worth $2,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in Public Storage during the second quarter valued at approximately $1,153,971,000. Vanguard Group Inc. boosted its holdings in Public Storage by 10.8% in the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after purchasing an additional 2,253,225 shares during the period. AQR Capital Management LLC grew its position in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Public Storage by 375.7% in 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 during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Public Storage by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after purchasing an additional 177,421 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Shares of Public Storage stock opened at $298.57 on Thursday. The firm’s 50-day moving average is $277.27 and its 200 day moving average is $282.43. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 33.10, a PEG ratio of 10.29 and a beta of 1.01.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is presently 133.04%.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their target price on Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price on the stock. in a research note on Tuesday, January 20th. Finally, BNP Paribas Exane lowered their price objective on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Public Storage has an average rating of “Hold” and a consensus price target of $306.44.

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.