Hsbc Holdings PLC Buys 81,388 Shares of Public Storage $PSA

Hsbc Holdings PLC boosted its position in shares of Public Storage (NYSE:PSA) by 15.4% during the 4th quarter, according to the company in its most recent filing with the 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.

Other hedge funds have also recently bought and sold shares of the company. Bayban bought a new stake in shares of Public Storage during the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter valued at about $27,000. Raiffeisen Bank International AG bought a new position in Public Storage in the third quarter valued at about $30,000. Wealth Watch Advisors INC bought a new position in Public Storage in the third quarter valued at about $34,000. Finally, Knuff & Co LLC acquired a new stake in Public Storage in the fourth quarter worth about $38,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 0.0%

NYSE PSA opened at $318.12 on Friday. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The stock has a 50-day simple moving average of $306.88 and a 200 day simple moving average of $290.33. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $55.85 billion, a PE ratio of 32.83, a P/E/G ratio of 4.33 and a beta of 0.98.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio is presently 123.84%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays dropped their price objective on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. BNP Paribas Exane raised their target price on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. William Blair set a $305.00 price target on shares of Public Storage in a research report on Monday, March 16th. Royal Bank Of Canada boosted their price target on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Finally, Mizuho increased their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $323.53.

Public Storage 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.