TD Private Client Wealth LLC Purchases 39 Shares of Public Storage (NYSE:PSA)

TD Private Client Wealth LLC raised its position in Public Storage (NYSE:PSA) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,695 shares of the real estate investment trust’s stock after purchasing an additional 39 shares during the quarter. TD Private Client Wealth LLC’s holdings in Public Storage were worth $617,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Public Storage by 732.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after buying an additional 1,358,493 shares during the period. Adelante Capital Management LLC increased its stake in Public Storage by 389.9% in the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after purchasing an additional 1,164,630 shares during the period. FMR LLC increased its stake in Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after purchasing an additional 869,066 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after purchasing an additional 405,847 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Public Storage by 116.7% during the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock valued at $111,077,000 after purchasing an additional 208,546 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

PSA opened at $317.62 on Friday. The firm has a market capitalization of $55.62 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 5.38 and a beta of 0.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day moving average is $337.34 and its two-hundred day moving average is $322.43. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.78%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research analyst reports. Scotiabank lifted their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Wells Fargo & Company decreased their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Truist Financial increased their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Citigroup upped their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $342.07.

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.