Toronto Dominion Bank Grows Position in Public Storage (NYSE:PSA)

Toronto Dominion Bank raised its holdings in Public Storage (NYSE:PSA - Free Report) by 49.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,471 shares of the real estate investment trust's stock after acquiring an additional 25,805 shares during the quarter. Toronto Dominion Bank's holdings in Public Storage were worth $28,553,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PSA. OFI Invest Asset Management purchased a new stake in Public Storage during the second quarter worth about $32,000. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $38,000. EdgeRock Capital LLC purchased a new position in Public Storage in the 2nd quarter valued at approximately $39,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Public Storage during the third quarter worth $50,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research reports. Royal Bank of Canada lowered their target price on Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Jefferies Financial Group upped their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Barclays dropped their price objective on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Citigroup upped their target price on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $342.07.

Public Storage Trading Down 0.8 %

Public Storage stock traded down $2.52 during trading on Thursday, hitting $320.82. The company's stock had a trading volume of 650,147 shares, compared to its average volume of 714,059. The stock's fifty day moving average is $338.54 and its 200 day moving average is $322.13. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The stock has a market capitalization of $56.18 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 5.56 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.74%. Public Storage's payout ratio is currently 124.61%.

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.