Insider Selling: Public Storage SVP Sells 17,500 Shares of Stock (PSA)
Public Storage (NYSE:PSA) SVP David F. Doll sold 17,500 shares of Public Storage stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $175.58, for a total transaction of $3,072,650.00. Following the completion of the transaction, the senior vice president now directly owns 38,235 shares of the company’s stock, valued at approximately $6,713,301. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Public Storage from $175.00 to $182.00 in a research note on Tuesday, July 22nd. Analysts at Barclays raised their price target on shares of Public Storage from $201.00 to $206.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $173.27.
Shares of Public Storage (NYSE:PSA) traded up 0.03% on Thursday, hitting $177.30. The stock had a trading volume of 186,850 shares. Public Storage has a 52-week low of $147.14 and a 52-week high of $177.81. The stock’s 50-day moving average is $173.2 and its 200-day moving average is $170.3. The company has a market cap of $30.609 billion and a price-to-earnings ratio of 35.31.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.99 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.96 by $0.03. On average, analysts predict that Public Storage will post $7.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, September 11th.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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