TD Private Client Wealth LLC Purchases 71 Shares of Public Storage (NYSE:PSA)

TD Private Client Wealth LLC lifted its position in shares of Public Storage (NYSE:PSA) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,766 shares of the real estate investment trust’s stock after buying an additional 71 shares during the quarter. TD Private Client Wealth LLC’s holdings in Public Storage were worth $529,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PSA. Quent Capital LLC grew its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the 4th quarter worth $38,000. Toth Financial Advisory Corp increased its position in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the period. Parkworth Wealth Management Inc. acquired a new position in Public Storage in the fourth quarter valued at about $67,000. Finally, Compass Financial Services Inc bought a new stake in Public Storage during the fourth quarter worth about $68,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial dropped their target price on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. 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. Scotiabank dropped their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $338.00.

Public Storage Trading Up 1.3 %

PSA opened at $295.07 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company’s 50 day moving average price is $300.07 and its two-hundred day moving average price is $321.50. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.07%. Public Storage’s payout ratio is 112.89%.

About Public Storage

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.