Hsbc Holdings PLC Reduces Position in Public Storage $PSA

Hsbc Holdings PLC trimmed its holdings in Public Storage (NYSE:PSA) by 10.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 549,624 shares of the real estate investment trust’s stock after selling 61,688 shares during the period. Hsbc Holdings PLC’s holdings in Public Storage were worth $148,808,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the 3rd quarter valued at about $27,000. Bayban bought a new stake in shares of Public Storage in the fourth quarter worth approximately $26,000. Wealth Watch Advisors INC bought a new stake in shares of Public Storage in the third quarter worth approximately $34,000. Raiffeisen Bank International AG grew its stake in shares of Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 37 shares during the period. Finally, Knuff & Co LLC purchased a new position in shares of Public Storage during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 11.10% of the stock is currently owned by insiders.

Public Storage Price Performance

NYSE PSA opened at $318.33 on Friday. The company has a 50-day moving average price of $314.27 and a 200-day moving average price of $297.92. Public Storage has a 52 week low of $256.54 and a 52 week 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 firm has a market capitalization of $55.88 billion, a P/E ratio of 32.85, a PEG ratio of 4.28 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts anticipate that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage’s payout ratio is presently 123.84%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Raymond James Financial assumed coverage on shares of Public Storage in a research report on Thursday. They issued a “market perform” rating for the company. Royal Bank Of Canada boosted their target price on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Scotiabank increased their price target on Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Barclays restated an “equal weight” rating and issued a $349.00 price target on shares of Public Storage in a research note on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $325.37.

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.