Hsbc Holdings PLC Boosts Position in Public Storage $PSA

Hsbc Holdings PLC boosted its stake in shares of Public Storage (NYSE:PSA) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,312 shares of the real estate investment trust’s stock after buying an additional 81,388 shares during the quarter. Hsbc Holdings PLC owned approximately 0.35% of Public Storage worth $158,757,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PSA. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the third quarter valued at approximately $27,000. Bayban purchased a new position in Public Storage during the 4th quarter worth $26,000. Wealth Watch Advisors INC bought a new stake in Public Storage during the 3rd quarter valued at $34,000. Raiffeisen Bank International AG raised its position in Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Knuff & Co LLC purchased a new stake in shares of Public Storage in the 4th quarter worth $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PSA shares. Jefferies Financial Group upped their price objective on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Citigroup boosted their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Scotiabank upped their price target on shares of Public Storage from $340.00 to $342.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 18th. UBS Group reiterated a “neutral” rating on shares of Public Storage in a research note on Monday, June 22nd. Finally, Barclays dropped their price objective on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $324.68.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Down 0.1%

Shares of Public Storage stock opened at $329.25 on Friday. The firm’s 50 day moving average price is $310.97 and its 200-day moving average price is $293.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The company has a market cap of $57.80 billion, a P/E ratio of 33.98, a PEG ratio of 4.43 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, June 15th. Public Storage’s payout ratio is 123.84%.

Public Storage Company Profile

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.