A Director at Public Storage (NYSE: PSA) is Buying Shares

By Carrie Williams

Yesterday, a Director at Public Storage (PSAResearch Report), Wayne Hughes, bought shares of PSA for $471.3K.

Following Wayne Hughes’ last PSA Buy transaction on January 11, 2019, the stock climbed by 1.0%. In addition to Wayne Hughes, one other PSA executive reported Buy trades in the last month.

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Based on Public Storage’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $717 million and quarterly net profit of $386 million. In comparison, last year the company earned revenue of $692 million and had a net profit of $586 million. The company has a one-year high of $266.77 and a one-year low of $155.37. Currently, Public Storage has an average volume of 991.37K.

Based on 6 analyst ratings, the analyst consensus is Hold with an average price target of $208.17, reflecting a -8.2% downside.

In the last 30 days, insiders have sold $1.25M worth of PSA shares and purchased $471.3K worth of PSA shares. The insider sentiment on Public Storage has been negative according to 48 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Wayne Hughes’ trades have generated a -14.8% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Investment in PS Business Parks segment includes commercial properties, primarily multi-tenant flex, office, and industrial parks. The Investment in Shurgard segment owns self-storage facilities located in seven countries in Western Europe operated under the Shurgard brand name. The company was founded by Bradley Wayne Hughes, Sr. and Kenneth Q. Volk, Jr. in 1972 and is headquartered in Glendale, CA.