Public Storage (NYSE:PSA) released its earnings results on Wednesday, April 25th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($0.02), Fidelity Earnings reports. The company had revenue of $669.90 million for the quarter, compared to analyst estimates of $598.28 million. Public Storage had a net margin of 50.72% and a return on equity of 27.68%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 EPS.
Shares of Public Storage opened at $203.84 on Friday, Marketbeat.com reports. Public Storage has a 1-year low of $204.81 and a 1-year high of $207.05. The firm has a market cap of $35.82 billion, a PE ratio of 19.93, a P/E/G ratio of 3.89 and a beta of 0.27.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Wednesday, June 13th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.92%. Public Storage’s payout ratio is presently 78.20%.
A number of equities analysts recently weighed in on PSA shares. BMO Capital Markets set a $185.00 price target on shares of Public Storage and gave the stock a “sell” rating in a report on Tuesday, February 20th. Bank of America raised shares of Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 price objective on the stock in a report on Tuesday, February 27th. Jefferies Group reissued a “neutral” rating on shares of Public Storage in a report on Thursday, April 26th. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $213.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a research report on Monday, March 12th. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Public Storage has a consensus rating of “Hold” and an average price target of $204.60.
In related news, SVP Lily Yan Hughes sold 443 shares of Public Storage stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $194.53, for a total value of $86,176.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.00% of the stock is currently owned by company insiders.
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 March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 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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