Public Storage (PSA) Insider John Reyes Sells 60,000 Shares
Public Storage (NYSE:PSA) insider John Reyes sold 60,000 shares of Public Storage stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total transaction of $12,426,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
John Reyes also recently made the following trade(s):
- On Friday, May 12th, John Reyes sold 65,000 shares of Public Storage stock. The shares were sold at an average price of $208.44, for a total transaction of $13,548,600.00.
Shares of Public Storage (NYSE PSA) traded up 0.71% during mid-day trading on Wednesday, reaching $209.88. 1,104,447 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $211.84 and a 200 day moving average price of $218.58. Public Storage has a 52-week low of $200.65 and a 52-week high of $260.83. The firm has a market cap of $36.49 billion, a P/E ratio of 29.81 and a beta of 0.45.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by $0.05. The firm had revenue of $645.55 million for the quarter, compared to the consensus estimate of $615.23 million. Public Storage had a net margin of 54.13% and a return on equity of 27.74%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. Analysts forecast that Public Storage will post $7.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, June 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.81%. Public Storage’s dividend payout ratio is currently 113.64%.
COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/06/14/public-storage-psa-insider-john-reyes-sells-60000-shares.html.
PSA has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, February 21st. BMO Capital Markets reissued a “hold” rating and issued a $210.00 price objective on shares of Public Storage in a research note on Thursday, February 23rd. Evercore ISI cut shares of Public Storage from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Barclays PLC lifted their price objective on shares of Public Storage from $215.00 to $222.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 7th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $222.00 price objective on shares of Public Storage in a research note on Monday, March 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Public Storage presently has a consensus rating of “Hold” and an average target price of $227.80.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Public Storage by 1.8% in the first quarter. Vanguard Group Inc. now owns 21,329,524 shares of the real estate investment trust’s stock worth $4,669,246,000 after buying an additional 377,659 shares in the last quarter. BlackRock Inc. raised its stake in Public Storage by 2,552.4% in the first quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock worth $3,101,367,000 after buying an additional 13,633,185 shares in the last quarter. FMR LLC raised its stake in Public Storage by 6.7% in the fourth quarter. FMR LLC now owns 9,152,434 shares of the real estate investment trust’s stock worth $2,045,569,000 after buying an additional 571,324 shares in the last quarter. APG Asset Management US Inc. raised its stake in Public Storage by 2.4% in the first quarter. APG Asset Management US Inc. now owns 4,076,423 shares of the real estate investment trust’s stock worth $892,370,000 after buying an additional 96,400 shares in the last quarter. Finally, Morgan Stanley raised its stake in Public Storage by 16.3% in the first quarter. Morgan Stanley now owns 2,751,504 shares of the real estate investment trust’s stock worth $602,333,000 after buying an additional 385,136 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.
About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.