Public Storage $PSA Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its stake in Public Storage (NYSE:PSA) by 7.6% in the third quarter, HoldingsChannel.com reports. The firm owned 179,443 shares of the real estate investment trust’s stock after selling 14,776 shares during the quarter. TD Asset Management Inc’s holdings in Public Storage were worth $51,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Pacific Financial purchased a new position in Public Storage in the third quarter valued at about $26,000. Asset Dedication LLC increased its stake in Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in Public Storage during the third quarter worth $30,000. NewSquare Capital LLC boosted its position in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC acquired a new stake in Public Storage in the third quarter valued at $33,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $303.49 on Friday. The company has a market cap of $53.27 billion, a P/E ratio of 33.65, a P/E/G ratio of 6.07 and a beta of 1.01. The business has a fifty day simple moving average of $281.23 and a 200-day simple moving average of $283.28. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s dividend payout ratio is currently 133.04%.

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price for the company. in a report on Tuesday, January 20th. The Goldman Sachs Group reissued a “buy” rating and set a $330.00 price objective on shares of Public Storage in a research note on Friday, February 20th. Barclays set a $331.00 target price on Public Storage in a research note on Tuesday, January 13th. Finally, Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $307.00.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.