Stocks of Public Storage (NYSE:PSA) traded higher last session on Wall Street, down -1.76% to $290.87.
PSA stock price is now 0.59% away from the 50-day moving average and -7.62% away from the 200-day moving average. The market capitalization of the company currently stands at $52.00B.
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On August 16, 2022, Raymond James Downgraded its previous ‘Strong Buy’ rating to ‘Outperform’ on the stock increasing its target price from $365 to quote $380, while ‘Citigroup’ rates the stock as ‘Buy’.
In other news, RUSSELL JOSEPH D JR, President and CEO bought 2,500 shares of the company’s stock on Dec 12. The stock was bought for $744,137 at an average price of $297.65. Upon completion of the transaction, the President and CEO now directly owns 45,982 shares in the company, valued at $13.37 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, Director GUSTAVSON TAMARA HUGHES sold 203 shares of the business’s stock. A total of $70,561 was realized by selling the stock at an average price of $348.29. Insiders disposed of 88,367 shares of company stock worth roughly $25.7 million over the past 1 year. A total of 8.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSA stock. A new stake in Public Storage shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $118,267,000. CAPTRUST FINANCIAL ADVISORS invested $35,586,000 in shares of PSA during the first quarter. In the first quarter, WEISS MULTI-STRATEGY ADVISERS LLC acquired a new stake in Public Storage valued at approximately $19,423,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in PSA for approximately $13,064,000. HILL WINDS CAPITAL LP purchased a new stake in PSA valued at around $11,635,000 in the second quarter. In total, there are 1,367 active investors with 81.10% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $292.17 for Public Storage (NYSE: PSA). During the past 12 months, Public Storage has had a low of $270.13 and a high of $405.31. The fifty day moving average price for PSA is $288.82 and a two-hundred day moving average price translates $319.93 for the stock.
The latest earnings results from Public Storage (NYSE: PSA) was released for Jun, 2022. According to the REIT – Industrial Company, earnings per share came in at $3.42, beating analysts’ expectations of $2.54 by 0.88. This compares to $2.52 EPS in the same period last year. The company reported revenue of $1.09 billion for the quarter, compared to $894.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.59 percent. For the current quarter, analysts expect PSA to generate $1.06B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/29/2022. Investors who held shares on 12/14/2022 were paid a $2.00 dividend. On an annualized basis, this represents a $8.00 dividend and a 2.75% percent yield. There was an ex-dividend date of 12/13/2022 for this dividend. In terms of dividend payout ratio, PSA is presently at 32.30%.
Public Storage(PSA) Company Profile
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. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.
