Public Storage Sees Unusually High Options Volume (PSA)
Public Storage (NYSE:PSA) saw some unusual options trading activity on Wednesday. Traders bought 1,856 put options on the company. This is an increase of approximately 992% compared to the typical daily volume of 170 put options.
In other Public Storage news, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $212.24, for a total value of $12,734,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the sale, the director now directly owns 8,350 shares in the company, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. Corporate insiders own 14.42% of the company’s stock.
Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 75 shares in the last quarter. Cable Hill Partners LLC raised its holdings in Public Storage by 139.9% in the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 459 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Public Storage by 23.8% in the second quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 170 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in Public Storage in the second quarter valued at approximately $198,000. Finally, IHT Wealth Management LLC raised its holdings in Public Storage by 43.0% in the second quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 175 shares in the last quarter. 80.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Public Storage (PSA) opened at $193.55 on Monday. The firm has a market cap of $33,685.64, a P/E ratio of 28.26, a P/E/G ratio of 4.00 and a beta of 0.44. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.
Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.60 by ($0.99). Public Storage had a net margin of 52.48% and a return on equity of 27.78%. research analysts predict that Public Storage will post 10.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $8.00 annualized dividend and a yield of 4.13%. Public Storage’s dividend payout ratio (DPR) is 116.79%.
TRADEMARK VIOLATION NOTICE: This article was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2018/01/15/public-storage-sees-unusually-high-options-volume-psa.html.
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 & Stock 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 stocks with our FREE daily email newsletter.