Wall Street brokerages expect Public Storage (NYSE:PSA) to post $694.64 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Public Storage’s earnings. The highest sales estimate is $707.20 million and the lowest is $684.22 million. Public Storage posted sales of $664.31 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The business is expected to announce its next quarterly earnings results on Wednesday, July 25th.
On average, analysts expect that Public Storage will report full-year sales of $2.77 billion for the current year, with estimates ranging from $2.73 billion to $2.86 billion. For the next financial year, analysts expect that the company will post sales of $2.84 billion per share, with estimates ranging from $2.79 billion to $2.91 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Public Storage.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.65 EPS for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($0.02). Public Storage had a return on equity of 27.68% and a net margin of 50.72%. The company had revenue of $669.90 million during the quarter, compared to the consensus estimate of $598.28 million. During the same period in the previous year, the business earned $2.37 earnings per share. Public Storage’s revenue was up 3.8% on a year-over-year basis.
A number of equities analysts have recently commented on PSA shares. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Public Storage in a report on Thursday, April 26th. KeyCorp set a $179.00 price target on Public Storage and gave the stock a “sell” rating in a report on Thursday, March 15th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $210.00 price target (down from $225.00) on shares of Public Storage in a report on Thursday, March 15th. They noted that the move was a valuation call. Morgan Stanley cut their price target on Public Storage from $199.00 to $193.00 and set an “underweight” rating for the company in a report on Thursday, June 14th. Finally, ValuEngine raised Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Seven research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $204.20.
A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in Public Storage by 14.7% during the first quarter. JPMorgan Chase & Co. now owns 3,962,477 shares of the real estate investment trust’s stock valued at $794,040,000 after buying an additional 507,928 shares during the period. Massachusetts Financial Services Co. MA raised its position in Public Storage by 3.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,308,880 shares of the real estate investment trust’s stock valued at $462,677,000 after purchasing an additional 67,635 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Public Storage by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,267,463 shares of the real estate investment trust’s stock valued at $454,377,000 after purchasing an additional 89,281 shares in the last quarter. Federated Investors Inc. PA raised its position in Public Storage by 12.1% during the first quarter. Federated Investors Inc. PA now owns 1,533,449 shares of the real estate investment trust’s stock valued at $307,288,000 after purchasing an additional 165,161 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Public Storage by 6.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,497,081 shares of the real estate investment trust’s stock valued at $300,001,000 after purchasing an additional 85,454 shares in the last quarter. 81.26% of the stock is owned by institutional investors.
Public Storage stock opened at $229.44 on Thursday. Public Storage has a one year low of $180.48 and a one year high of $230.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $39.43 billion, a PE ratio of 22.43, a P/E/G ratio of 4.27 and a beta of 0.30.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 28th. Investors of record on Wednesday, June 13th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Tuesday, June 12th. Public Storage’s dividend payout ratio is 78.20%.
Public Storage Company Profile
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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