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.

Insider Buying and Selling by Quarter for Public Storage (NYSE:PSA)

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%.

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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.

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