Hsbc Holdings PLC Has $158.76 Million Stake in Public Storage $PSA

Hsbc Holdings PLC grew its holdings in Public Storage (NYSE:PSA) by 15.4% in the 4th quarter, Holdings Channel reports. The fund owned 611,312 shares of the real estate investment trust’s stock after purchasing an additional 81,388 shares during the quarter. Hsbc Holdings PLC’s holdings in Public Storage were worth $158,757,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PSA. Bayban acquired a new position in shares of Public Storage in the 4th quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in Public Storage during the 3rd quarter worth approximately $27,000. Raiffeisen Bank International AG acquired a new stake in Public Storage during the 3rd quarter worth approximately $30,000. Wealth Watch Advisors INC acquired a new stake in Public Storage during the 3rd quarter worth approximately $34,000. Finally, Knuff & Co LLC acquired a new stake in Public Storage during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore upped their price target on shares of Public Storage from $306.00 to $317.00 in a report on Monday, June 8th. William Blair set a $305.00 price objective on shares of Public Storage in a report on Monday, March 16th. Royal Bank Of Canada boosted their price objective on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Citigroup upped their target price on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Mizuho increased their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $323.53.

Public Storage Trading Up 0.0%

NYSE:PSA opened at $318.12 on Friday. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The business has a 50 day moving average price of $306.88 and a two-hundred day moving average price of $290.33. The company has a market cap of $55.85 billion, a P/E ratio of 32.83, a price-to-earnings-growth ratio of 4.33 and a beta of 0.98.

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

Public Storage Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 950 shares of the firm’s 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 completion of the transaction, the insider owned 1,414 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.10% of the company’s stock.

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.