diff --git a/cms/plugin_rendering.py b/cms/plugin_rendering.py
index 2e94527ebfc..f9b8c549384 100644
--- a/cms/plugin_rendering.py
+++ b/cms/plugin_rendering.py
@@ -557,10 +557,10 @@ def _get_cached_placeholder_content(self, placeholder, language):
         return language_cache.get(placeholder.pk)
 
     def _get_content_object(self, page, slots=None):
-        if self.toolbar.get_object() == page:
+        toolbar_obj = self.toolbar.get_object()
+        if isinstance(toolbar_obj, PageContent) and toolbar_obj.page == page:
             # Current object belongs to the page itself
-            page_content = self.toolbar.get_object()
-            placeholders = Placeholder.objects.get_for_obj(page_content)
+            return Placeholder.objects.get_for_obj(toolbar_obj)
         elif slots:
             # If looking for inherited placeholders, slots is specified
             if self.toolbar.preview_mode_active or self.toolbar.edit_mode_active:
@@ -568,14 +568,13 @@ def _get_content_object(self, page, slots=None):
                                 .current_content(language=self.request_language).first())
             else:
                 page_content = page.pagecontent_set.filter(language=self.request_language).first()
-            placeholders = Placeholder.objects.get_for_obj(page_content) if page_content else Placeholder.objects.none()
-        else:
-            page_content = page.get_content_obj(self.request_language, fallback=False)
-
+            return Placeholder.objects.get_for_obj(page_content) if page_content else Placeholder.objects.none()
+        elif page_content := page.get_content_obj(self.request_language, fallback=False):
             PageContent.page.field.set_cached_value(page_content, page)
             # Creates any placeholders missing on the page
-            placeholders = page_content.rescan_placeholders().values()
-        return placeholders
+            return page_content.rescan_placeholders().values()
+        else:
+            return Placeholder.objects.none()
 
     def _preload_placeholders_for_page(self, page, slots=None, inherit=False):
         """
diff --git a/cms/tests/test_rendering.py b/cms/tests/test_rendering.py
index fa59656239e..58698f7c929 100644
--- a/cms/tests/test_rendering.py
+++ b/cms/tests/test_rendering.py
@@ -290,6 +290,19 @@ def test_details_view(self):
         r = self.strip_rendered(response.content.decode('utf8'))
         self.assertEqual(r, '|' + self.test_data['text_main'] + '|' + self.test_data['text_sub'] + '|')
 
+    def test_getting_placeholders(self):
+        """ContentRenderer._get_content_object uses toolbar to return placeholders of a page"""
+        request = self.get_request(page=self.test_page)
+        request.toolbar = CMSToolbar(request)
+        wrong_content_obj = self.test_page2.get_content_obj("en")
+        wrong_content_obj.page = self.test_page
+        request.toolbar.set_object(wrong_content_obj)
+        content_renderer = self.get_content_renderer(request)
+        placeholders = content_renderer._get_content_object(self.test_page)
+        wrong_content_obj.page = self.test_page2
+
+        self.assertEqual(len(placeholders), 2)
+
     @override_settings(
         CMS_PLUGIN_PROCESSORS=('cms.tests.test_rendering.sample_plugin_processor',),
         CMS_PLUGIN_CONTEXT_PROCESSORS=('cms.tests.test_rendering.sample_plugin_context_processor',),