TD Waterhouse Canada Inc. Decreases Stock Position in Public Storage (NYSE:PSA)

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

Several other institutional investors have also recently made changes to their positions in PSA. Barclays PLC boosted its stake in shares of Public Storage by 2.9% in the third quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust's stock worth $169,433,000 after buying an additional 13,065 shares during the last quarter. McIlrath & Eck LLC grew its stake in shares of Public Storage by 24.6% during the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 43 shares during the period. World Investment Advisors LLC purchased a new position in shares of Public Storage during the 3rd quarter valued at approximately $3,713,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Public Storage in the 3rd quarter valued at $1,466,000. Finally, Tidal Investments LLC boosted its holdings in Public Storage by 30.3% during the third quarter. Tidal Investments LLC now owns 11,386 shares of the real estate investment trust's stock worth $4,143,000 after buying an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PSA. Royal Bank of Canada lowered their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Barclays reissued an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Mizuho initiated coverage on Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and decreased their target price for the stock from $333.00 to $305.00 in a research note on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $336.25.

Public Storage Trading Up 1.5 %

Shares of PSA traded up $4.29 during trading on Wednesday, reaching $297.28. 219,931 shares of the company traded hands, compared to its average volume of 736,103. The stock has a 50-day simple moving average of $295.02 and a 200-day simple moving average of $308.97. The stock has a market cap of $52.15 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) 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.