Baird Downgrades WillScot (WSC) as Growth Trends Remain Soft

WillScot Holdings Corporation (NASDAQ:WSC) is included among the 13 Companies that Just Started Paying Dividends.

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On January 21, Baird downgraded WillScot Holdings Corporation (NASDAQ:WSC) to Neutral from Outperform and raised its price target to $23 from $22. In its research note, the firm said the company’s rental rates and revenue growth remain “sluggish.” Baird also pointed to results from its quarterly survey of National Portable Storage Association members, which suggest a more balanced setup for WillScot as it heads into its initial 2026 guidance. While 2026 estimates have continued to trend lower, the survey indicates that WillScot’s “tone likely remains subdued,” according to the firm.

The company offers a quarterly dividend of $0.07 per share and has a dividend yield of 1.39%, as of January 29. Brad Soultz, chief executive officer of WillScot, said the launch of a quarterly dividend adds another way for the company to return excess capital to shareholders. He said the decision reflects the durability of WillScot’s cash flows across market cycles, the strength of its balance sheet, and management’s confidence in the company’s long-term growth outlook.

Soultz also said the board plans to review the dividend program regularly, with the long-term aim of increasing the payout over time. Under the program, dividends are expected to be paid on the third Wednesday of the final month of each calendar quarter to shareholders of record as of the first Wednesday of that month, subject to quarterly board approval and declaration.

WillScot Holdings Corporation (NASDAQ:WSC) operates as a leading provider of turnkey space solutions across North America. Its product lineup includes modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, protective buildings, climate-controlled units, and clearspan structures.

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Disclosure: None.