Gary E. Pruitt Sells 5,000 Shares of Public Storage (PSA) Stock

Public Storage (NYSE:PSA) Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $203.35, for a total value of $1,016,750.00. Following the sale, the director now owns 8,350 shares of the company’s stock, valued at $1,697,972.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE PSA opened at $206.35 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 1.06. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $234.90. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 4.01 and a beta of 0.13.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.85. Public Storage had a return on equity of 30.87% and a net margin of 55.38%. The company had revenue of $706.37 million during the quarter, compared to analysts’ expectations of $704.51 million. During the same period in the prior year, the company earned $1.61 EPS. As a group, analysts predict that Public Storage will post 10.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Tuesday, December 11th. Public Storage’s payout ratio is 78.20%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Unigestion Holding SA bought a new position in shares of Public Storage in the 2nd quarter valued at $794,000. Glenmede Trust Co. NA lifted its stake in shares of Public Storage by 1.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 41,752 shares of the real estate investment trust’s stock valued at $9,472,000 after acquiring an additional 476 shares during the last quarter. Bridges Investment Management Inc. lifted its stake in shares of Public Storage by 11.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 3,223 shares of the real estate investment trust’s stock valued at $731,000 after acquiring an additional 344 shares during the last quarter. Lourd Capital LLC bought a new position in shares of Public Storage in the 3rd quarter valued at $529,000. Finally, Sun Life Financial INC lifted its stake in shares of Public Storage by 387.9% in the 2nd quarter. Sun Life Financial INC now owns 7,929 shares of the real estate investment trust’s stock valued at $1,799,000 after acquiring an additional 6,304 shares during the last quarter. Institutional investors own 81.51% of the company’s stock.

Several equities research analysts have weighed in on the company. Barclays restated a “hold” rating and set a $208.00 target price on shares of Public Storage in a research note on Wednesday, August 8th. Argus upped their target price on Public Storage to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Evercore ISI cut Public Storage from an “in-line” rating to an “underperform” rating and set a $217.00 target price for the company. in a research note on Monday, July 16th. They noted that the move was a valuation call. BMO Capital Markets restated a “sell” rating and set a $194.00 target price on shares of Public Storage in a research note on Wednesday, August 1st. Finally, Citigroup cut their target price on Public Storage from $235.00 to $202.00 and set a “hold” rating for the company in a research note on Friday, October 5th. Seven 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 company presently has an average rating of “Hold” and a consensus target price of $205.54.

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About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand.

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