Hsbc Holdings PLC Invests $195.81 Million in Public Storage $PSA

Hsbc Holdings PLC bought a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 614,852 shares of the real estate investment trust’s stock, valued at approximately $195,808,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Knights of Columbus Asset Advisors LLC increased its position in Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after purchasing an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after buying an additional 9,618 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Public Storage by 5.3% during the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after buying an additional 12,444 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of Public Storage during the second quarter worth $3,689,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Public Storage by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after acquiring an additional 25,353 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PSA shares. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. BMO Capital Markets lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Scotiabank upped their price target on shares of Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Jefferies Financial Group raised their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.16.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $322.56 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The company has a 50 day simple moving average of $322.47 and a two-hundred day simple moving average of $307.02. The company has a market capitalization of $56.65 billion, a PE ratio of 30.78, a P/E/G ratio of 3.83 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its quarterly earnings data 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 net margin of 41.80% and a return on equity of 40.98%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $4.28 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Research analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

About Public Storage

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.