Hsbc Holdings PLC Boosts Stock Position in Public Storage $PSA

Hsbc Holdings PLC grew its position in Public Storage (NYSE:PSA) by 15.4% during the fourth quarter, Holdings Channel reports. The firm owned 611,312 shares of the real estate investment trust’s stock after acquiring an additional 81,388 shares during the period. Hsbc Holdings PLC’s holdings in Public Storage were worth $158,757,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares during the period. Norges Bank purchased a new stake in shares of Public Storage in the 4th quarter valued at $1,163,751,000. Capital International Investors increased its stake in shares of 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 acquiring an additional 3,686,211 shares during the period. Geode Capital Management LLC increased its stake in shares of Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after acquiring an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. raised its holdings in shares of Public Storage by 9.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after purchasing an additional 339,882 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PSA. Jefferies Financial Group boosted their target price on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Truist Financial increased their price target on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Citigroup upped their target price on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve 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 a consensus target price of $324.68.

Public Storage Stock Down 0.1%

PSA opened at $329.25 on Friday. The company has a fifty day moving average of $310.97 and a two-hundred day moving average of $293.88. The stock has a market capitalization of $57.80 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 4.43 and a beta of 0.96. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $4.12 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts expect that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. Public Storage’s dividend payout ratio is currently 123.84%.

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.