Some Traders See Unusual Bearish Options Activity in Public Storage

 Some Traders See Unusual Bearish Options Activity in Public Storage

In today’s session Public Storage (PSA) recorded an unusually high (532) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious PSA decrease. With 532 contracts traded and 4784 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: PSA161216P00195000 closed last at: $1.8 or 12.2% down. About 74,785 shares traded hands. Public Storage (NYSE:PSA) has declined 20.31% since April 22, 2016 and is downtrending. It has underperformed by 25.72% the S&P500.

Analysts await Public Storage (NYSE:PSA) to report earnings on February, 21. They expect $2.65 earnings per share, up 8.16% or $0.20 from last year’s $2.45 per share. PSA’s profit will be $458.81 million for 19.64 P/E if the $2.65 EPS becomes a reality. After $2.51 actual earnings per share reported by Public Storage for the previous quarter, Wall Street now forecasts 5.58% EPS growth.

Public Storage (NYSE:PSA) Ratings Coverage

Out of 16 analysts covering Public Storage (NYSE:PSA), 3 rate it a “Buy”, 2 “Sell”, while 11 “Hold”. This means 19% are positive. $275 is the highest target while $200 is the lowest. The $232.50 average target is 11.69% above today’s ($208.16) stock price. Public Storage has been the topic of 38 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded the shares of PSA in a report on Thursday, January 7 to “Outperform” rating. As per Tuesday, July 19, the company rating was maintained by Barclays Capital. RBC Capital Markets maintained Public Storage (NYSE:PSA) on Monday, November 9 with “Sector Perform” rating. On Tuesday, September 8 the stock rating was maintained by Evercore with “Hold”. Barclays Capital downgraded the shares of PSA in a report on Tuesday, January 26 to “Equal-Weight” rating. The company was initiated on Thursday, June 23 by FBR Capital. The firm has “Outperform” rating by Raymond James given on Friday, September 4. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, May 11. The rating was maintained by Argus Research with “Buy” on Wednesday, January 27. The rating was maintained by Jefferies with “Hold” on Wednesday, August 10.

According to Zacks Investment Research, “Public Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters is located in Glendale, California. Public Storage is America’s premier storage company. Over the past three decades, the company has shown consistent growth in the number of properties owned, as well as in the range of services provided.”

Insitutional Activity: The institutional sentiment decreased to 0.11 in Q2 2016. Its down 1.39, from 1.5 in 2016Q1. The ratio dropped, as 1 funds sold all Public Storage shares owned while 1 reduced positions. 0 funds bought stakes while 3 increased positions. They now own 340,461 shares or 0.63% more from 338,327 shares in 2016Q1.
Kcm Investment Advisors Ltd Llc holds 0.05% or 28,601 shares in its portfolio. Massmutual Tru Communication Fsb Adv last reported 0% of its portfolio in the stock. Roundview Cap Ltd holds 0.29% or 31,690 shares in its portfolio. Spirit Of America New York holds 0.12% or 32,490 shares in its portfolio. Geneva Advsr Ltd reported 17,833 shares or 0.01% of all its holdings. Fulton Breakefield Broenniman Ltd Co, a Maryland-based fund reported 34,330 shares. Trust Of Vermont has 1,000 shares for 0% of their US portfolio. Mycio Wealth Prns Ltd Limited Liability Company, a Pennsylvania-based fund reported 38 shares. Roosevelt Gp Incorporated holds 0.23% of its portfolio in Public Storage (NYSE:PSA) for 116,556 shares. Van Hulzen Asset Ltd Liability Corp accumulated 72,123 shares or 1.03% of the stock.

Public Storage is a real estate investment trust. The company has a market cap of $36.04 billion. The Company’s 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. It has a 31.91 P/E ratio. It operates through Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. and Investment in Shurgard Europe divisions.

PSA Company Profile

Public Storage, incorporated on March 13, 2007, 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. The Firm operates through Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. (PSB) and Investment in Shurgard Europe divisions. The Firm also has direct and indirect equity interests in approximately 30 million net rentable square feet of commercial space located in over nine states in the United States primarily owned and operated by PSB under the PS Business Parks name. The Firm manages approximately 30 self-storage facilities for third parties, and has equity interests in and manages over 12 additional self-storage facilities.

More important recent Public Storage (NYSE:PSA) news were published by: Nasdaq.com which released: “Director at Public Storage buys 69763 shares” on November 18, 2016, also Realmoney.Thestreet.com published article titled: “Stock Up on Public Storage at These Levels”, Stltoday.com published: “PUBLIC STORAGE INC-REGIONL – Ad from 2016-11-18” on November 18, 2016. More interesting news about Public Storage (NYSE:PSA) was released by: Seekingalpha.com and their article: “Public Storage Preferred For Parking Cash” with publication date: November 09, 2016.

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