Public Storage (NYSE:PSA) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,290 shares of the real estate investment trust's stock after acquiring an additional 5,819 shares during the quarter. Toronto Dominion Bank's holdings in Public Storage were worth $25,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC boosted 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 acquiring an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Public Storage in the 4th quarter valued at approximately $32,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth about $38,000. Millstone Evans Group LLC acquired a new position in shares of Public Storage during the fourth quarter worth about $38,000. Finally, Parvin Asset Management LLC purchased a new stake in Public Storage during the 4th quarter worth about $38,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.0%

Shares of PSA stock traded up $0.08 during mid-day trading on Thursday, reaching $295.94. The stock had a trading volume of 592,467 shares, compared to its average volume of 744,087. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The firm has a market capitalization of $51.92 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The stock's 50-day moving average price is $293.82 and its two-hundred day moving average price is $305.26. 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 (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the company posted $4.03 earnings per share. Public Storage's revenue for the quarter was up .1% on a year-over-year basis. Equities analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company 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 $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's payout ratio is currently 119.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Mizuho assumed coverage on Public Storage in a report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price target for the company. Wells Fargo & Company cut their price target 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. Scotiabank upped their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Bank of America lifted their target price on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Evercore ISI boosted their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $337.42.

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.