Public Storage (NYSE:PSA) saw some unusual options trading on Wednesday. Stock traders bought 2,794 call options on the company. This represents an increase of 1,218% compared to the typical volume of 212 call options.
In other news, insider John Reyes sold 60,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $212.24, for a total value of $12,734,400.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the transaction, the director now directly owns 8,350 shares in the company, valued at $1,770,951.50. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PSA. JPMorgan Chase & Co. grew its holdings in Public Storage by 41.3% during the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock worth $950,191,000 after acquiring an additional 1,304,669 shares during the period. Security Capital Research & Management Inc. grew its holdings in Public Storage by 54.8% during the fourth quarter. Security Capital Research & Management Inc. now owns 1,534,114 shares of the real estate investment trust’s stock worth $320,630,000 after acquiring an additional 542,803 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Public Storage by 151.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 699,299 shares of the real estate investment trust’s stock worth $146,153,000 after acquiring an additional 421,457 shares during the period. Lasalle Investment Management Securities LLC grew its holdings in Public Storage by 32.2% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,677,943 shares of the real estate investment trust’s stock worth $350,690,000 after acquiring an additional 408,263 shares during the period. Finally, APG Asset Management US Inc. grew its holdings in Public Storage by 8.3% during the third quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock worth $976,548,000 after acquiring an additional 350,712 shares during the period. 79.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Public Storage (NYSE:PSA) opened at $190.75 on Thursday. The company has a market capitalization of $32,425.58, a PE ratio of 18.61, a P/E/G ratio of 3.66 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 posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.72 by $0.03. The firm had revenue of $634.22 million for the quarter, compared to analyst estimates of $643.46 million. Public Storage had a return on equity of 27.42% and a net margin of 51.16%. Public Storage’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $2.03 earnings per share. research analysts predict that Public Storage will post 10.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 4.19%. Public Storage’s dividend payout ratio (DPR) is 118.69%.
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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.
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