Public Storage (NYSE:PSA) was the recipient of some unusual options trading on Tuesday. Investors purchased 8,066 call options on the company. This is an increase of 2,301% compared to the average volume of 336 call options.
Shares of Public Storage (PSA) opened at $197.40 on Wednesday. The firm has a market cap of $34,740.21, a PE ratio of 19.92, a PEG ratio of 3.94 and a beta of 0.31. Public Storage has a 1-year low of $180.48 and a 1-year high of $232.21.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.03. Public Storage had a net margin of 51.16% and a return on equity of 27.48%. The business had revenue of $634.22 million during the quarter, compared to analyst estimates of $643.46 million. During the same period last year, the business posted $2.03 earnings per share. Public Storage’s quarterly revenue was up 3.3% compared to the same quarter last year. analysts expect that Public Storage will post 10.54 EPS for the current fiscal year.
A number of analysts have recently weighed in on the stock. BMO Capital Markets set a $185.00 target price on shares of Public Storage and gave the stock a “sell” rating in a report on Tuesday, February 20th. B. Riley set a $220.00 target price on shares of Public Storage and gave the stock a “hold” rating in a report on Wednesday, November 15th. Bank of America lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a report on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $213.00 target price on shares of Public Storage and gave the stock a “hold” rating in a report on Monday. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $204.43.
In other news, Director Gary E. Pruitt sold 5,000 shares of the firm’s 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 transaction, the director now directly owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 14.42% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in Public Storage by 22.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,709 shares of the real estate investment trust’s stock worth $1,611,000 after buying an additional 1,414 shares during the period. Certified Advisory Corp purchased a new stake in Public Storage in the fourth quarter worth about $175,000. Hanson McClain Inc. lifted its holdings in Public Storage by 222.1% in the fourth quarter. Hanson McClain Inc. now owns 2,200 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 1,517 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in Public Storage by 7.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 27,535 shares of the real estate investment trust’s stock worth $5,755,000 after buying an additional 1,817 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Public Storage by 12.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,421 shares of the real estate investment trust’s stock worth $12,628,000 after buying an additional 6,605 shares during the period. Institutional investors and hedge funds own 81.75% of the company’s stock.
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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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