Public Storage (NYSE:PSA) – Equities research analysts at KeyCorp reduced their FY2017 earnings estimates for shares of Public Storage in a research report issued on Wednesday. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will post earnings of $9.95 per share for the year, down from their previous forecast of $10.26. KeyCorp also issued estimates for Public Storage’s FY2018 earnings at $10.70 EPS.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by $0.95. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same period in the previous year, the company posted $2.40 EPS. Public Storage’s quarterly revenue was up 5.0% compared to the same quarter last year.

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Several other equities research analysts also recently issued reports on PSA. Barclays PLC boosted their price objective on Public Storage from $222.00 to $224.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Cantor Fitzgerald cut their price target on Public Storage from $222.00 to $216.00 and set a “neutral” rating on the stock in a report on Monday, May 22nd. BidaskClub upgraded Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Finally, Jefferies Group LLC restated a “hold” rating and set a $222.00 price target on shares of Public Storage in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $221.64.

Public Storage (PSA) traded down 0.74% during trading on Friday, hitting $199.16. The stock had a trading volume of 113,488 shares. The firm has a 50 day moving average of $206.11 and a 200-day moving average of $215.33. Public Storage has a one year low of $192.15 and a one year high of $233.39. The company has a market cap of $34.65 billion, a P/E ratio of 28.41 and a beta of 0.41.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. Creative Planning boosted its position in Public Storage by 0.3% in the first quarter. Creative Planning now owns 9,099 shares of the real estate investment trust’s stock valued at $1,992,000 after buying an additional 25 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Public Storage by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 46,110 shares of the real estate investment trust’s stock valued at $10,093,000 after buying an additional 600 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Public Storage by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 629 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 3 shares in the last quarter. National Pension Service boosted its position in Public Storage by 8.7% in the first quarter. National Pension Service now owns 118,533 shares of the real estate investment trust’s stock valued at $26,006,000 after buying an additional 9,452 shares in the last quarter. Finally, Alpha Windward LLC boosted its position in Public Storage by 1.3% in the first quarter. Alpha Windward LLC now owns 926 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 12 shares in the last quarter. 78.87% of the stock is owned by institutional investors and hedge funds.

In other news, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $207.11, for a total transaction of $12,426,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald P. Spogli acquired 2,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $200.59 per share, with a total value of $401,180.00. The disclosure for this purchase can be found here. Corporate insiders own 14.42% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.99%. Public Storage’s dividend payout ratio is currently 113.96%.

About Public Storage

Public Storage 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.

Earnings History and Estimates for Public Storage (NYSE:PSA)

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