Public Storage(NYSE:PSA) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $613.698M. Analysts estimated a revenue of $619.130M. The revenues were -0.88% below the estimates. Earnings per share were $2.65. The reported EPS was above estimates by 40.21%. Analysts had estimated an EPS of $1.89.
Public Storage (PSA) shares turned negative on Wednesdays trading session with the shares closing down -1.49 points or -0.65% at a volume of 8,17,489. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $229.71. The peak price level was also seen at $229.71 while the days lowest was $224.84. Finally the shares closed at $226.24. The 52-week high of the shares is $277.6 while the 52-week low is $200.65. According to the latest information available, the market cap of the company is $39,239 M.
Several Insider Transactions has been reported to the SEC. On Dec 14, 2016, John Reyes (SENIOR VICE PRESIDENT / CFO) sold 50,000 shares at $215.42 per share price.Also, On Nov 14, 2016, Tamara Hughes Gustavson (director 10% owner) purchased 69,763 shares at $215.13 per share price.On Jun 10, 2016, B Wayne Jr Hughes (director 10% owner) purchased 22,100 shares at $252.42 per share price, according to the Form-4 filing with the securities and exchange commission.
Public Storage (the Trust) is a real estate investment trust (REIT). The Trusts principal business activities include Domestic Self-Storage European Self-Storage and Commercial. The Trust acquires develops owns and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.