Public Storage (NYSE:PSA) – Equities researchers at Jefferies Financial Group lowered their Q3 2018 earnings estimates for shares of Public Storage in a research note issued to investors on Tuesday, September 11th. Jefferies Financial Group analyst G. Hoglund now anticipates that the real estate investment trust will post earnings per share of $2.65 for the quarter, down from their previous forecast of $2.66. Jefferies Financial Group also issued estimates for Public Storage’s Q4 2018 earnings at $2.79 EPS, FY2018 earnings at $10.49 EPS, FY2019 earnings at $10.75 EPS and FY2020 earnings at $11.14 EPS.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.61 by ($0.61). The firm had revenue of $685.50 million during the quarter, compared to analyst estimates of $686.32 million. Public Storage had a net margin of 55.00% and a return on equity of 30.37%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 earnings per share.

Several other brokerages also recently commented on PSA. Evercore ISI downgraded Public Storage from an “in-line” rating to an “underperform” rating and set a $217.00 target price for the company. in a research note on Monday, July 16th. They noted that the move was a valuation call. ValuEngine cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Friday, May 18th. Goldman Sachs Group cut shares of Public Storage from a “neutral” rating to a “sell” rating in a research report on Wednesday, August 22nd. Barclays raised their price target on shares of Public Storage from $205.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 17th. Finally, Citigroup raised their price target on shares of Public Storage from $200.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, July 12th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Public Storage presently has a consensus rating of “Hold” and a consensus price target of $208.33.

Shares of PSA opened at $209.92 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $36.30 billion, a PE ratio of 20.52, a PEG ratio of 3.99 and a beta of 0.20. Public Storage has a one year low of $180.48 and a one year high of $234.90.

Large investors have recently bought and sold shares of the stock. Unigestion Holding SA purchased a new position in Public Storage in the 2nd quarter valued at approximately $794,000. Norinchukin Bank The grew its stake in Public Storage by 24.4% in the 1st quarter. Norinchukin Bank The now owns 14,884 shares of the real estate investment trust’s stock valued at $2,983,000 after buying an additional 2,917 shares in the last quarter. Toronto Dominion Bank grew its stake in Public Storage by 32.0% in the 1st quarter. Toronto Dominion Bank now owns 85,630 shares of the real estate investment trust’s stock valued at $17,156,000 after buying an additional 20,749 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Public Storage by 3.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,555,567 shares of the real estate investment trust’s stock valued at $352,896,000 after buying an additional 58,486 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Public Storage by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 985,884 shares of the real estate investment trust’s stock valued at $197,562,000 after buying an additional 20,722 shares in the last quarter. 81.05% of the stock is currently owned by institutional investors.

In related news, CEO Ronald L. Havner, Jr. sold 100,000 shares of Public Storage stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $211.54, for a total value of $21,154,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 14.00% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Wednesday, September 12th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.81%. Public Storage’s dividend payout ratio (DPR) is presently 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 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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