Public Storage (NYSE:PSA) insider John Reyes sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $208.44, for a total transaction of $13,548,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

John Reyes also recently made the following trade(s):

  • On Tuesday, June 13th, John Reyes sold 60,000 shares of Public Storage stock. The stock was sold at an average price of $207.11, for a total transaction of $12,426,600.00.
  • On Wednesday, March 8th, John Reyes sold 65,000 shares of Public Storage stock. The shares were sold at an average price of $225.09, for a total transaction of $14,630,850.00.

Shares of Public Storage (PSA) traded up 0.46% during midday trading on Friday, reaching $213.66. 943,787 shares of the company’s stock traded hands. The stock’s 50 day moving average is $211.09 and its 200-day moving average is $218.50. Public Storage has a 52 week low of $200.65 and a 52 week high of $260.83. The company has a market capitalization of $37.14 billion, a PE ratio of 30.35 and a beta of 0.45.

Public Storage (NYSE:PSA) last announced its quarterly earnings results 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. Public Storage had a net margin of 54.13% and a return on equity of 27.74%. The firm had revenue of $645.55 million during the quarter, compared to analysts’ expectations of $615.23 million. During the same quarter in the prior year, the business earned $2.21 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Public Storage will post $7.33 earnings per share for the current fiscal year.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Wednesday, June 14th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, June 12th. Public Storage’s dividend payout ratio is currently 113.64%.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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.

PSA has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a “hold” rating and set a $222.00 target price on shares of Public Storage in a report on Monday, March 20th. BMO Capital Markets reissued a “hold” rating and issued a $210.00 price target on shares of Public Storage in a report on Wednesday, March 22nd. Barclays PLC boosted their price target on shares of Public Storage from $222.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Finally, Evercore ISI lowered shares of Public Storage from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Three 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 stock. The company has an average rating of “Hold” and an average target price of $227.80.

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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