Public Storage CFO Unloads $4,237,250 in Stock (PSA)
Public Storage (NYSE:PSA) CFO John Reyes sold 25,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $169.49, for a total transaction of $4,237,250.00. Following the transaction, the chief financial officer now directly owns 117,770 shares of the company’s stock, valued at approximately $19,960,837. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at SunTrust raised their price target on shares of Public Storage from $165.00 to $178.00 in a research note on Friday, May 16th. 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 research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Public Storage has an average rating of “Hold” and a consensus target price of $172.67.
Public Storage (NYSE:PSA) traded down 0.32% during mid-day trading on Monday, hitting $168.99. 478,621 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 has a 50-day moving average of $171.7 and a 200-day moving average of $163.9. The company has a market cap of $29.157 billion and a price-to-earnings ratio of 34.18.
Public Storage (NYSE:PSA) last announced its 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. On average, analysts predict that Public Storage will post $7.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, June 11th.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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