Public Storage Sees Unusually Large Options Volume (PSA)

Public Storage (NYSE:PSA) saw some unusual options trading activity on Wednesday. Traders purchased 1,856 put options on the company. This represents an increase of 992% compared to the typical volume of 170 put options.

Several research analysts recently issued reports on the company. Morgan Stanley downgraded Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a research report on Wednesday, December 13th. Bank of America downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price objective for the company. in a research report on Monday, December 4th. They noted that the move was a valuation call. Jefferies Group set a $212.00 price objective on Public Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price target for the company. in a report on Tuesday, November 28th. Finally, B. Riley set a $220.00 price target on Public Storage and gave the company a “hold” rating in a report on Wednesday, November 15th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Public Storage presently has an average rating of “Hold” and a consensus price target of $209.38.

In related news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 8,350 shares in the company, valued at approximately $1,770,951.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $212.24, for a total value of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Public Storage by 15.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 75 shares during the period. Cable Hill Partners LLC grew its stake in shares of Public Storage by 139.9% during the 3rd quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 459 shares during the period. D.A. Davidson & CO. grew its stake in shares of Public Storage by 23.8% during the 2nd quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 170 shares during the period. BB&T Investment Services Inc. purchased a new stake in shares of Public Storage during the 2nd quarter valued at $198,000. Finally, IHT Wealth Management LLC grew its stake in shares of Public Storage by 43.0% during the 2nd quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 175 shares during the period. 80.64% of the stock is owned by institutional investors.

Shares of Public Storage (PSA) opened at $193.55 on Friday. Public Storage has a 12 month low of $192.15 and a 12 month high of $232.21. The stock has a market cap of $33,690.00, a price-to-earnings ratio of 28.30, a PEG ratio of 4.17 and a beta of 0.44.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 4.13%. Public Storage’s dividend payout ratio is presently 116.96%.

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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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