As Public Storage (PSA) Stock Declined, Shareholder Security Capital Research & Management INC Upped Its Position

January 22, 2018 - By Louis Casey

Security Capital Research & Management Inc increased its stake in Public Storage (PSA) by 20.75% based on its latest 2017Q3 regulatory filing with the SEC. Security Capital Research & Management Inc bought 170,382 shares as the company’s stock declined 5.00% while stock markets rallied. The institutional investor held 991,311 shares of the real estate investment trusts company at the end of 2017Q3, valued at $212.13M, up from 820,929 at the end of the previous reported quarter. Security Capital Research & Management Inc who had been investing in Public Storage for a number of months, seems to be bullish on the $33.84 billion market cap company. The stock increased 0.45% or $0.87 during the last trading session, reaching $194.43. About 9,107 shares traded. Public Storage (NYSE:PSA) has declined 14.14% since January 22, 2017 and is downtrending. It has underperformed by 30.84% the S&P500.

Security Capital Research & Management Inc, which manages about $3.91 billion and $3.20 billion US Long portfolio, decreased its stake in Simon Ppty Group Inc New (NYSE:SPG) by 69,391 shares to 1.05M shares, valued at $169.37M in 2017Q3, according to the filing. It also reduced its holding in Coresite Rlty Corp (NYSE:COR) by 29,925 shares in the quarter, leaving it with 386,825 shares, and cut its stake in Avalonbay Cmntys Inc (NYSE:AVB).

More notable recent Public Storage (NYSE:PSA) news were published by: Timesfreepress.com which released: “Chattanooga firefighters battle afternoon fire at self-storage facility on …” on January 04, 2018, also Zacks.com with their article: “Will Expansion Moves Aid Public Storage Amid Supply Strains?” published on December 27, 2017, Wsj.com published: “A Slowdown Is in Store for the Self-Storage Business” on January 16, 2018. More interesting news about Public Storage (NYSE:PSA) were released by: Businesswire.com and their article: “Public Storage Announces Tax Treatment of 2017 Dividends” published on January 17, 2018 as well as Businesswire.com‘s news article titled: “Public Storage Launches Organization Video Contest” with publication date: December 29, 2017.

Public Storage (NYSE:PSA) Ratings Coverage

Among 17 analysts covering Public Storage (NYSE:PSA), 2 have Buy rating, 6 Sell and 9 Hold. Therefore 12% are positive. Public Storage has $275 highest and $184.0 lowest target. $217.37’s average target is 11.80% above currents $194.43 stock price. Public Storage had 61 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Hold” rating by BMO Capital Markets on Thursday, March 23. KeyBanc Capital Markets upgraded the shares of PSA in report on Monday, December 7 to “Sector Weight” rating. Evercore downgraded the shares of PSA in report on Monday, March 21 to “Sell” rating. KeyBanc Capital Markets maintained it with “Sell” rating and $184.0 target in Wednesday, November 15 report. The stock of Public Storage (NYSE:PSA) has “Neutral” rating given on Thursday, January 5 by Robert W. Baird. As per Tuesday, September 8, the company rating was maintained by Evercore. The rating was initiated by BMO Capital Markets on Monday, September 11 with “Sell”. The company was downgraded on Thursday, August 11 by Bank of America. The firm has “Outperform” rating by Robert W. Baird given on Thursday, January 7. The firm earned “Underweight” rating on Wednesday, November 11 by BB&T Capital.

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