Hsbc Holdings PLC Acquires Shares of 614,852 Public Storage $PSA

Hsbc Holdings PLC bought a new position in shares of Public Storage (NYSE:PSA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 614,852 shares of the real estate investment trust’s stock, valued at approximately $195,808,000. Hsbc Holdings PLC owned 0.35% of Public Storage as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PSA. Bayban bought a new position in Public Storage during the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage during the third quarter valued at approximately $27,000. Bruce G. Allen Investments LLC increased its stake in Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in Public Storage in the third quarter worth $34,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Public Storage during the second quarter worth $36,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Down 0.7%

PSA stock opened at $322.56 on Wednesday. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 3.83 and a beta of 0.96. The company has a fifty day moving average price of $322.47 and a two-hundred day moving average price of $307.02. Public Storage has a one year low of $256.54 and a one year high of $335.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm earned $4.28 EPS. The business’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. Equities analysts anticipate that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

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

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSA. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore set a $316.00 price target on Public Storage in a report on Monday, July 6th. 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. Raymond James Financial assumed coverage on shares of Public Storage in a report on Thursday, July 16th. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. 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 price target of $326.16.

Public Storage Company 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.