Public Storage (NYSE:PSA) : Traders are bullish on Public Storage (NYSE:PSA) as it has outperformed the S&P 500 by a wide margin of 4.74% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.38% in the last 1 week, and is up 6.43% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 30.83% from its 1 Year high price. On Apr 13, 2016, the shares registered one year high at $277.60 and the one year low was seen on Jul 13, 2015. The 50-Day Moving Average price is $250.30 and the 200 Day Moving Average price is recorded at $254.34.
The stock has recorded a 20-day Moving Average of 4.31% and the 50-Day Moving Average is 2.42%.
Public Storage (NYSE:PSA): stock turned positive on Friday. Though the stock opened at $254.69, the bulls momentum made the stock top out at $257.71 level for the day. The stock recorded a low of $253.765 and closed the trading day at $257.34, in the green by 1.40%. The total traded volume for the day was 912,756. The stock had closed at $253.78 in the previous days trading.
In an insider trading activity, Hughes B Wayne Jr, director 10% owner of Public Storage, executed a transaction worth $5,578,482 on June 8, 2016. A total of 22,100 shares were purchased at an average price of $252.42. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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.