Public Storage (NYSE:PSA) Position Trimmed by Toronto Dominion Bank

Toronto Dominion Bank decreased its holdings in Public Storage (NYSE:PSAGet Rating) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,815 shares of the real estate investment trust’s stock after selling 11,732 shares during the quarter. Toronto Dominion Bank owned 0.05% of Public Storage worth $28,389,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. AIA Group Ltd grew its holdings in shares of Public Storage by 79.2% in the 2nd quarter. AIA Group Ltd now owns 6,078 shares of the real estate investment trust’s stock worth $1,900,000 after acquiring an additional 2,686 shares during the last quarter. Westpac Banking Corp lifted its stake in Public Storage by 114.0% during the second quarter. Westpac Banking Corp now owns 62,782 shares of the real estate investment trust’s stock valued at $19,630,000 after buying an additional 33,438 shares in the last quarter. Sit Investment Associates Inc. boosted its holdings in shares of Public Storage by 39.3% in the second quarter. Sit Investment Associates Inc. now owns 620 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 175 shares during the period. Forsta AP Fonden increased its position in shares of Public Storage by 35.2% in the second quarter. Forsta AP Fonden now owns 46,500 shares of the real estate investment trust’s stock worth $14,539,000 after acquiring an additional 12,100 shares in the last quarter. Finally, Clarius Group LLC lifted its position in shares of Public Storage by 6.3% in the 2nd quarter. Clarius Group LLC now owns 2,550 shares of the real estate investment trust’s stock valued at $797,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $293.51 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $51.55 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 2.45 and a beta of 0.40. Public Storage has a 12-month low of $270.73 and a 12-month high of $421.76. The company has a 50 day moving average price of $295.87 and a two-hundred day moving average price of $314.77.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Wednesday, December 14th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Tuesday, December 13th. Public Storage’s payout ratio is presently 32.52%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research report on Monday, July 25th. StockNews.com started coverage on Public Storage in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley lowered their target price on Public Storage from $298.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 13th. Raymond James lowered shares of Public Storage from a “strong-buy” rating to an “outperform” rating and increased their price target for the stock from $365.00 to $380.00 in a research report on Tuesday, August 16th. Finally, Evercore ISI decreased their price target on shares of Public Storage from $333.00 to $327.00 and set an “in-line” rating for the company in a report on Monday, September 19th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $368.91.

Insider Buying and Selling

In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $348.29, for a total value of $70,702.87. Following the completion of the sale, the director now owns 5,500 shares of the company’s stock, valued at $1,915,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.00% of the stock is currently owned by corporate insiders.

About Public Storage

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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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

See Also

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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