Public Storage Target of Unusually High Options Trading (PSA)

Public Storage (NYSE:PSA) was the recipient of unusually large options trading on Tuesday. Traders purchased 5,171 put options on the stock. This is an increase of approximately 3,542% compared to the average volume of 142 put options.

PSA stock opened at $207.71 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $34.99 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 3.95 and a beta of 0.19. Public Storage has a 1 year low of $180.48 and a 1 year high of $234.90.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. Public Storage had a return on equity of 30.37% and a net margin of 55.00%. During the same quarter last year, the firm posted $1.61 EPS. Equities analysts forecast that Public Storage will post 10.53 EPS for the current fiscal year.



A number of research firms have issued reports on PSA. Citigroup increased their price target on Public Storage from $200.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, July 12th. Evercore ISI lowered Public Storage from an “in-line” rating to an “underperform” rating and set a $217.00 price target on the stock. in a research report on Monday, July 16th. They noted that the move was a valuation call. Barclays increased their price target on Public Storage from $205.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 17th. Goldman Sachs Group lowered Public Storage from a “neutral” rating to a “sell” rating in a research report on Wednesday, August 22nd. Finally, Argus increased their price target on Public Storage to $250.00 and gave the company a “buy” rating in a research report on Tuesday, July 17th. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Public Storage presently has a consensus rating of “Hold” and an average target price of $205.54.

In related news, CEO Ronald L. Havner, Jr. sold 100,000 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $211.54, for a total transaction of $21,154,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kiley Juergens Wealth Management LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $142,000. Quad Cities Investment Group LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $151,000. Landaas & Co. WI ADV acquired a new stake in shares of Public Storage during the 2nd quarter worth about $156,000. Parallel Advisors LLC raised its position in shares of Public Storage by 61.7% during the 2nd quarter. Parallel Advisors LLC now owns 765 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 292 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in shares of Public Storage during the 2nd quarter worth about $199,000. 81.51% of the stock is currently owned by institutional investors and hedge funds.

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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