Insider Selling: David F. Doll Sells 7,436 Shares of Public Storage Stock (PSA)
Public Storage (NYSE:PSA) SVP David F. Doll unloaded 7,436 shares of the stock on the open market in a transaction dated Friday, May 16th. The shares were sold at an average price of $172.03, for a total transaction of $1,279,215.08. Following the completion of the transaction, the senior vice president now directly owns 38,235 shares of the company’s stock, valued at approximately $6,577,567. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on PSA shares. Analysts at SunTrust raised their price target on shares of Public Storage from $165.00 to $178.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $175.00 price target on the stock, down previously from $185.00. Finally, analysts at Barclays raised their price target on shares of Public Storage from $189.00 to $201.00 in a research note on Tuesday, April 22nd. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $172.67.
Public Storage (NYSE:PSA) traded down 0.26% on Monday, hitting $171.93. 444,695 shares of the company’s stock traded hands. Public Storage has a 52-week low of $145.04 and a 52-week high of $176.72. The stock’s 50-day moving average is $171.7 and its 200-day moving average is $162.3. The company has a market cap of $29.665 billion and a price-to-earnings ratio of 34.75.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.80 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.86 by $0.06. The company had revenue of $519.62 million for the quarter, compared to the consensus estimate of $488.02 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Public Storage will post $8.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Wednesday, June 11th.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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