Public Storage (PSA) Insider John Reyes Sells 60,000 Shares

Public Storage (NYSE:PSA) insider John Reyes sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Public Storage (NYSE PSA) opened at $209.97 on Tuesday. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21. The company has a market cap of $36,540.00, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 4.48 and a beta of 0.43.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.81%. Public Storage’s dividend payout ratio (DPR) is 116.96%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PSA. Public Employees Retirement System of Ohio raised its holdings in shares of Public Storage by 1.7% during the third quarter. Public Employees Retirement System of Ohio now owns 270,815 shares of the real estate investment trust’s stock worth $57,952,000 after purchasing an additional 4,585 shares during the period. Garde Capital Inc. acquired a new stake in shares of Public Storage during the third quarter worth $315,000. IFM Investors Pty Ltd acquired a new stake in shares of Public Storage during the third quarter worth $940,000. Piedmont Investment Advisors LLC raised its holdings in shares of Public Storage by 0.9% during the third quarter. Piedmont Investment Advisors LLC now owns 32,570 shares of the real estate investment trust’s stock worth $6,970,000 after purchasing an additional 294 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Public Storage by 4.0% during the third quarter. California Public Employees Retirement System now owns 363,560 shares of the real estate investment trust’s stock worth $77,798,000 after purchasing an additional 14,059 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.

Several brokerages recently commented on PSA. BMO Capital Markets set a $193.00 price target on shares of Public Storage and gave the stock a “sell” rating in a research report on Thursday, October 26th. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. FBR & Co set a $220.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “sell” rating and set a $184.00 price objective on shares of Public Storage in a research note on Wednesday, September 13th. Finally, Evercore ISI reiterated an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $210.25.

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Public Storage Company Profile

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.

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

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