Public Storage (PSA) Scheduled to Post Quarterly Earnings on Wednesday
Public Storage (NYSE:PSA) is scheduled to announce its earnings results after the market closes on Wednesday, October 25th. Analysts expect the company to announce earnings of $1.89 per share for the quarter.
Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.95). Public Storage had a net margin of 53.47% and a return on equity of 22.31%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. During the same quarter last year, the business posted $2.40 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts expect Public Storage to post $7.22 EPS for the current fiscal year and $7.75 EPS for the next fiscal year.
Shares of Public Storage (NYSE PSA) opened at 215.88 on Wednesday. The firm has a market capitalization of $37.56 billion, a price-to-earnings ratio of 30.80 and a beta of 0.44. The stock has a 50 day moving average price of $212.26 and a 200-day moving average price of $211.25. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.71%. Public Storage’s dividend payout ratio is currently 113.96%.
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In other news, Director Ronald P. Spogli bought 2,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $200.59 per share, with a total value of $401,180.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.42% of the stock is owned by corporate insiders.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Evercore ISI restated an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a research report on Thursday, September 14th. KeyCorp restated a “sell” rating and set a $184.00 price objective on shares of Public Storage in a research report on Wednesday, September 13th. BMO Capital Markets assumed coverage on Public Storage in a research report on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. Finally, Jefferies Group LLC set a $210.00 price objective on Public Storage and gave the stock a “hold” rating in a research report on Thursday, August 17th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $214.91.
Public Storage Company Profile
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.
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