TD Private Client Wealth LLC Purchases 71 Shares of Public Storage (NYSE:PSA)

TD Private Client Wealth LLC raised its position in Public Storage (NYSE:PSA) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,766 shares of the real estate investment trust’s stock after purchasing an additional 71 shares during the period. TD Private Client Wealth LLC’s holdings in Public Storage were worth $529,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Doliver Advisors LP lifted its holdings in Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 36 shares during the period. Brooklyn Investment Group lifted its stake in shares of Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 38 shares during the period. Werba Rubin Papier Wealth Management boosted its position in shares of Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 38 shares in the last quarter. Continuum Advisory LLC increased its holdings in Public Storage by 7.6% in the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock worth $182,000 after purchasing an additional 39 shares in the last quarter. Finally, Premier Path Wealth Partners LLC lifted 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 buying an additional 40 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE:PSA opened at $295.07 on Tuesday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $51.76 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The stock’s fifty day simple moving average is $300.07 and its two-hundred day simple moving average is $321.50.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Analysts Set New Price Targets

Several analysts have recently commented on PSA shares. Barclays reaffirmed an “overweight” rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Truist Financial dropped their price objective on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company reduced their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Scotiabank reduced their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $338.00.

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.