Public Storage (NYSE:PSA) insider John Reyes sold 60,000 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Public Storage (PSA) traded down $1.05 during trading hours on Monday, hitting $212.07. 810,000 shares of the stock were exchanged, compared to its average volume of 851,594. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The stock has a market capitalization of $36,540.00, a PE ratio of 21.40, a price-to-earnings-growth ratio of 4.48 and a beta of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.77%. Public Storage’s payout ratio is 116.96%.

Large investors have recently made changes to their positions in the company. Covington Capital Management raised its holdings in shares of Public Storage by 11.7% in the second quarter. Covington Capital Management now owns 8,960 shares of the real estate investment trust’s stock valued at $1,868,000 after buying an additional 937 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Public Storage by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,054,552 shares of the real estate investment trust’s stock valued at $428,434,000 after buying an additional 57,277 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Public Storage by 7.6% in the second quarter. Nationwide Fund Advisors now owns 118,395 shares of the real estate investment trust’s stock valued at $24,689,000 after buying an additional 8,410 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Public Storage by 56.1% in the second quarter. Amalgamated Bank now owns 17,486 shares of the real estate investment trust’s stock valued at $3,646,000 after buying an additional 6,283 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Public Storage by 2.5% in the second quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust’s stock valued at $72,881,000 after buying an additional 8,600 shares during the last quarter. 80.91% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. Bank of America cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price target for the company. in a research report on Monday. They noted that the move was a valuation call. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the company a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price target for the company. in a research report on Tuesday, November 28th. B. Riley set a $220.00 price target on shares of Public Storage and gave the company a “hold” rating in a research report on Wednesday, November 15th. Finally, SunTrust Banks reissued a “hold” rating and issued a $200.00 price target on shares of Public Storage in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $210.25.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this news story on another website, it was stolen and republished in violation of US and international copyright and trademark legislation. The legal version of this news story can be accessed at https://theolympiareport.com/2017/12/04/insider-selling-public-storage-psa-insider-sells-60000-shares-of-stock.html.

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)

Receive News & 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 companies with Analyst Ratings Network's FREE daily email newsletter.