Hsbc Holdings PLC Boosts Stock Holdings in Public Storage $PSA

Hsbc Holdings PLC lifted its position in shares of Public Storage (NYSE:PSA) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 614,852 shares of the real estate investment trust’s stock after acquiring an additional 65,228 shares during the quarter. Hsbc Holdings PLC owned approximately 0.35% of Public Storage worth $195,808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Public Storage in the second quarter worth $5,495,077,000. Norges Bank purchased a new stake in Public Storage in the fourth quarter worth approximately $1,163,751,000. Capital International Investors boosted its stake in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares in the last quarter. Geode Capital Management LLC boosted its position in Public Storage by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after buying an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. boosted its holdings in Public Storage by 9.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock valued at $1,036,375,000 after acquiring an additional 339,882 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 0.1%

Shares of NYSE:PSA opened at $301.83 on Monday. The stock’s 50-day simple moving average is $320.62 and its two-hundred day simple moving average is $307.86. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $53.01 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 4.11 and a beta of 0.95. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55.

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 net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company earned $4.28 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The business 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. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s payout ratio is 114.50%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PSA. Citigroup increased their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Barclays lifted their price target on Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Truist Financial boosted their price objective on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. BNP Paribas Exane increased their target price on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Public Storage has a consensus rating of “Hold” and a consensus target price of $327.00.

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.