Public Storage (NYSE:PSA) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of Public Storage (NYSE:PSA) by 13.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 588,118 shares of the real estate investment trust’s stock after selling 88,906 shares during the quarter. Hsbc Holdings PLC owned about 0.33% of Public Storage worth $169,088,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSA. EverSource Wealth Advisors LLC raised its position in shares of Public Storage by 107.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 44 shares in the last quarter. Core Wealth Advisors Inc. acquired a new stake in shares of Public Storage during the fourth quarter worth $30,000. OFI Invest Asset Management bought a new position in shares of Public Storage in the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at about $36,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Public Storage during the 4th quarter valued at about $37,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Jefferies Financial Group boosted their price objective on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays increased their target price on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $332.71.

Public Storage Stock Up 0.9 %

PSA stock opened at $360.72 on Thursday. The firm’s 50-day moving average is $324.49 and its two-hundred day moving average is $294.65. The company has a market capitalization of $63.39 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 5.06 and a beta of 0.67. Public Storage has a 52 week low of $233.18 and a 52 week high of $366.29. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The company had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. Public Storage’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.28 EPS. On average, analysts forecast that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.33%. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.