TD Waterhouse Canada Inc. Has $970,000 Stake in Public Storage (NYSE:PSA)

TD Waterhouse Canada Inc. cut its position in shares of Public Storage (NYSE:PSA - Free Report) by 27.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,242 shares of the real estate investment trust's stock after selling 1,198 shares during the period. TD Waterhouse Canada Inc.'s holdings in Public Storage were worth $970,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Doliver Advisors LP raised its stake in Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after buying an additional 36 shares during the period. Brooklyn Investment Group raised its stake in Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock valued at $345,000 after acquiring an additional 38 shares during the period. Werba Rubin Papier Wealth Management boosted its position in Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after purchasing an additional 38 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after purchasing an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. raised its position in shares of Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 40 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

PSA stock traded up $0.85 during mid-day trading on Monday, hitting $291.76. The stock had a trading volume of 844,133 shares, compared to its average volume of 738,999. The firm has a fifty day simple moving average of $295.33 and a 200 day simple moving average of $309.44. The firm has a market capitalization of $51.18 billion, a P/E ratio of 30.30, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. Public Storage's dividend payout ratio (DPR) is 112.89%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of research reports. Barclays reiterated an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Wells Fargo & Company lowered their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Mizuho initiated coverage on Public Storage in a research report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective on the stock. Finally, Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and boosted their target price for the company from $349.00 to $368.00 in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $336.25.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.