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

Toronto Dominion Bank boosted its stake in shares of Public Storage (NYSE:PSA) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,290 shares of the real estate investment trust’s stock after buying 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 filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group increased its position in Public Storage by 3.4% during the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock worth $345,000 after purchasing an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its holdings in shares of Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after purchasing an additional 38 shares during the last quarter. Lido Advisors LLC grew its position in shares of Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock valued at $1,287,000 after purchasing an additional 39 shares during the period. Premier Path Wealth Partners LLC increased its stake in Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 40 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

PSA opened at $309.07 on Monday. 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 has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a 50 day moving average of $293.46 and a two-hundred day moving average of $305.41. The company has a market cap of $54.22 billion, a P/E ratio of 32.09, a P/E/G ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business posted $4.03 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect 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. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 119.17%.

Analysts Set New Price Targets

A number of analysts have issued reports on PSA shares. Mizuho began coverage on Public Storage in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price target on the stock. Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Evercore ISI increased their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd. Finally, Barclays decreased their price target on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday. Five 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 stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $337.42.

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.