Hsbc Holdings PLC Raises Holdings in Public Storage $PSA

Hsbc Holdings PLC raised its position in shares of Public Storage (NYSE:PSA) by 11.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 614,852 shares of the real estate investment trust’s stock after purchasing an additional 65,228 shares during the quarter. Hsbc Holdings PLC’s holdings in Public Storage were worth $195,808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Public Storage during the second quarter worth $5,495,077,000. Norges Bank purchased a new position in shares of Public Storage during the fourth quarter worth approximately $1,163,751,000. Capital International Investors grew its stake in Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Public Storage during the 2nd quarter worth $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Public Storage during the 2nd quarter worth about $558,904,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup increased their target price on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Raymond James Financial started coverage on shares of Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Wells Fargo & Company set a $311.00 price objective on Public Storage in a report on Tuesday, September 1st. UBS Group increased their price objective on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Finally, Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $327.00.

Public Storage Stock Down 0.1%

PSA stock opened at $301.83 on Monday. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The firm has a 50-day simple moving average of $320.62 and a 200-day simple moving average of $307.86. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $53.01 billion, a P/E ratio of 28.80, a P/E/G ratio of 4.11 and a beta of 0.95.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $4.28 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.10% of the stock is owned by company insiders.

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.