Public Storage (PSA) Forecasted to Earn FY2018 Earnings of $10.42 Per Share

Public Storage (NYSE:PSA) – Equities researchers at KeyCorp decreased their FY2018 earnings estimates for Public Storage in a research report issued to clients and investors on Sunday, December 2nd. KeyCorp analyst T. Thomas now expects that the real estate investment trust will post earnings per share of $10.42 for the year, down from their previous estimate of $10.50. KeyCorp also issued estimates for Public Storage’s FY2019 earnings at $10.77 EPS.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 EPS for the quarter, hitting the consensus estimate of $1.85. The firm had revenue of $706.37 million for the quarter, compared to the consensus estimate of $704.51 million. Public Storage had a net margin of 55.38% and a return on equity of 30.87%. During the same quarter last year, the firm posted $1.61 EPS.

PSA has been the topic of several other research reports. Goldman Sachs Group downgraded shares of Public Storage from a “neutral” rating to a “sell” rating in a report on Wednesday, August 22nd. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Citigroup dropped their price objective on shares of Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Finally, Barclays restated a “hold” rating and set a $208.00 price objective on shares of Public Storage in a report on Wednesday, August 8th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $205.58.

NYSE:PSA opened at $212.42 on Tuesday. Public Storage has a 52-week low of $180.48 and a 52-week high of $234.90. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29. The stock has a market cap of $37.18 billion, a PE ratio of 20.76, a P/E/G ratio of 4.21 and a beta of 0.17.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, December 11th. This represents a $8.00 annualized dividend and a dividend yield of 3.77%. Public Storage’s payout ratio is 78.20%.

In other news, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $203.35, for a total transaction of $1,016,750.00. Following the transaction, the director now owns 8,350 shares in the company, valued at approximately $1,697,972.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 14.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Public Storage by 1.9% in the third quarter. BlackRock Inc. now owns 15,674,301 shares of the real estate investment trust’s stock valued at $3,160,411,000 after acquiring an additional 290,505 shares during the period. FMR LLC boosted its position in Public Storage by 19.9% in the second quarter. FMR LLC now owns 6,736,465 shares of the real estate investment trust’s stock valued at $1,528,235,000 after buying an additional 1,116,634 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Public Storage by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,360,124 shares of the real estate investment trust’s stock valued at $475,863,000 after buying an additional 57,564 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Public Storage by 0.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,350,116 shares of the real estate investment trust’s stock valued at $473,854,000 after buying an additional 18,311 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Public Storage by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 1,579,391 shares of the real estate investment trust’s stock valued at $358,300,000 after buying an additional 50,027 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.

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 June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 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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Earnings History and Estimates for Public Storage (NYSE:PSA)

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