Toronto Dominion Bank Increases Stake in Public Storage (NYSE:PSA)

Toronto Dominion Bank boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,290 shares of the real estate investment trust's stock after purchasing an additional 5,819 shares during the period. Toronto Dominion Bank's holdings in Public Storage were worth $25,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quent Capital LLC increased its stake in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Public Storage during the fourth quarter valued at $32,000. Synergy Asset Management LLC purchased a new stake in Public Storage in the fourth quarter worth $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the fourth quarter valued at $38,000. Finally, Parvin Asset Management LLC bought a new stake in shares of Public Storage in the fourth quarter valued at $38,000. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Barclays dropped their target price on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Evercore ISI lifted their price target on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Finally, Royal Bank of Canada decreased their price objective on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $339.25.

Public Storage Price Performance

Public Storage stock traded up $3.48 during midday trading on Thursday, hitting $305.64. 569,961 shares of the company's stock were exchanged, compared to its average volume of 745,166. The company has a market cap of $53.62 billion, a P/E ratio of 31.74, a PEG ratio of 4.91 and a beta of 0.91. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50-day moving average price of $294.03 and a two-hundred day moving average price of $304.02. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted $4.03 EPS. On average, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is currently 119.17%.

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.