John Reyes Sells 60,000 Shares of Public Storage (PSA) Stock
Public Storage (NYSE:PSA) insider John Reyes sold 60,000 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $216.32, for a total transaction of $12,979,200.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
John Reyes also recently made the following trade(s):
- On Wednesday, September 14th, John Reyes sold 30,000 shares of Public Storage stock. The shares were sold at an average price of $215.41, for a total transaction of $6,462,300.00.
Shares of Public Storage (NYSE:PSA) opened at 212.12 on Wednesday. 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. The firm has a market cap of $36.79 billion, a P/E ratio of 32.49 and a beta of 0.47.
Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.51 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $2.51. Public Storage had a return on equity of 26.05% and a net margin of 52.71%. The company earned $663.15 million during the quarter, compared to analyst estimates of $624.13 million. During the same period last year, the company posted $2.33 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Public Storage will post $9.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Wednesday, December 14th will be paid a $2.00 dividend. The ex-dividend date is Monday, December 12th. This is a positive change from Public Storage’s previous quarterly dividend of $1.80. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.77%. Public Storage’s dividend payout ratio (DPR) is 110.43%.
Several hedge funds have recently made changes to their positions in the stock. RMR Advisors LLC raised its stake in shares of Public Storage by 6.0% in the second quarter. RMR Advisors LLC now owns 17,700 shares of the real estate investment trust’s stock worth $4,524,000 after buying an additional 1,000 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Public Storage by 24.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 217,668 shares of the real estate investment trust’s stock worth $55,634,000 after buying an additional 43,148 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Public Storage by 3.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 45,869 shares of the real estate investment trust’s stock worth $11,724,000 after buying an additional 1,371 shares during the period. AJO LP raised its stake in shares of Public Storage by 879.8% in the second quarter. AJO LP now owns 56,083 shares of the real estate investment trust’s stock worth $14,334,000 after buying an additional 50,359 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Public Storage by 2.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 262,980 shares of the real estate investment trust’s stock worth $67,215,000 after buying an additional 5,201 shares during the period. Institutional investors own 77.85% of the company’s stock.
Several brokerages have recently issued reports on PSA. Argus reissued a “buy” rating and set a $270.00 price target (down previously from $284.00) on shares of Public Storage in a report on Wednesday. Barclays PLC reissued a “hold” rating and set a $230.00 price target on shares of Public Storage in a report on Tuesday, November 8th. Goldman Sachs Group Inc. raised shares of Public Storage from a “sell” rating to a “neutral” rating and boosted their price target for the company from $210.00 to $220.00 in a report on Monday, October 31st. Cantor Fitzgerald reissued a “hold” rating on shares of Public Storage in a report on Thursday, October 27th. Finally, FBR & Co reduced their price target on shares of Public Storage from $250.00 to $225.00 and set a “market perform” rating for the company in a report on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. Public Storage has a consensus rating of “Hold” and an average target price of $241.03.
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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