Public Storage (NYSE:PSA) Director Tamara Hughes Gustavson purchased 69,763 shares of Public Storage stock in a transaction on Friday, November 11th. The shares were acquired at an average price of $214.98 per share, for a total transaction of $14,997,649.74. Following the completion of the transaction, the director now directly owns 16,396,449 shares of the company’s stock, valued at $3,524,908,606.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Public Storage (NYSE:PSA) opened at 216.45 on Tuesday. The stock has a market cap of $37.54 billion, a price-to-earnings ratio of 33.15 and a beta of 0.47. The firm’s 50-day moving average price is $213.71 and its 200 day moving average price is $235.12. Public Storage has a 12 month low of $200.65 and a 12 month high of $277.60.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $2.51 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.51. The business had revenue of $663.15 million for the quarter, compared to analysts’ expectations of $624.13 million. Public Storage had a return on equity of 26.05% and a net margin of 52.71%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. On average, analysts anticipate that Public Storage will post $9.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Wednesday, December 14th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, December 12th. This is a positive change from Public Storage’s previous quarterly dividend of $1.80. Public Storage’s dividend payout ratio is presently 110.43%.

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Public Storage by 55.4% in the first quarter. Envestnet Asset Management Inc. now owns 36,974 shares of the real estate investment trust’s stock valued at $10,198,000 after buying an additional 13,176 shares during the last quarter. A.R.T. Advisors LLC raised its stake in Public Storage by 76.0% in the first quarter. A.R.T. Advisors LLC now owns 9,030 shares of the real estate investment trust’s stock valued at $2,490,000 after buying an additional 3,900 shares during the last quarter. Steinberg Global Asset Management bought a new stake in Public Storage during the first quarter valued at $215,000. Magnetar Financial LLC bought a new stake in Public Storage during the first quarter valued at $745,000. Finally, Mount Lucas Management LP raised its stake in Public Storage by 38.8% in the first quarter. Mount Lucas Management LP now owns 28,689 shares of the real estate investment trust’s stock valued at $7,913,000 after buying an additional 8,021 shares during the last quarter. Institutional investors own 77.85% of the company’s stock.

A number of research analysts have commented on PSA shares. KeyCorp reduced their price target on shares of Public Storage from $220.00 to $205.00 and set an “underweight” rating on the stock in a research report on Monday, September 12th. Zacks Investment Research cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Cantor Fitzgerald reiterated a “hold” rating on shares of Public Storage in a research report on Friday, August 26th. FBR & Co reduced their price target on shares of Public Storage from $250.00 to $225.00 and set a “market perform” rating on the stock in a research report on Thursday, October 27th. Finally, Evercore ISI upgraded shares of Public Storage from a “sell” rating to a “hold” rating and set a $228.00 target price on the stock in a report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. Public Storage presently has an average rating of “Hold” and an average target price of $241.37.

About Public Storage

Public Storage is a real estate investment trust. The Company’s 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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