Public Storage (NYSE:PSA) – Equities researchers at Jefferies Group issued their Q1 2018 earnings estimates for Public Storage in a research report issued on Monday, according to Zacks Investment Research. Jefferies Group analyst G. Hoglund expects that the real estate investment trust will post earnings of $2.46 per share for the quarter. Jefferies Group has a “Hold” rating and a $199.00 price objective on the stock. Jefferies Group also issued estimates for Public Storage’s Q2 2018 earnings at $2.59 EPS, Q3 2018 earnings at $2.67 EPS, Q4 2018 earnings at $2.82 EPS, FY2019 earnings at $11.01 EPS and FY2020 earnings at $11.54 EPS.
Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 EPS for the quarter, topping the Zacks’ consensus estimate of $2.72 by $0.03. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The company had revenue of $634.22 million for the quarter, compared to analysts’ expectations of $643.46 million. During the same period last year, the firm earned $2.03 EPS. Public Storage’s revenue for the quarter was up 3.3% compared to the same quarter last year.
PSA has been the topic of a number of other reports. Morgan Stanley cut Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a report on Wednesday, December 13th. Bank of America raised Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 target price on the stock in a report on Tuesday, February 27th. B. Riley set a $190.00 price target on Public Storage and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. BMO Capital Markets set a $185.00 price target on Public Storage and gave the stock a “sell” rating in a research note on Tuesday, February 20th. Finally, Citigroup cut their price target on Public Storage from $220.00 to $200.00 and set a “neutral” rating for the company in a research note on Thursday, March 1st. Seven research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $204.47.
Shares of Public Storage (NYSE:PSA) traded up $1.85 during trading on Wednesday, reaching $197.02. The company had a trading volume of 368,626 shares, compared to its average volume of 1,072,813. Public Storage has a one year low of $180.48 and a one year high of $232.21. The company has a market cap of $34,050.00, a PE ratio of 29.21, a P/E/G ratio of 3.85 and a beta of 0.31.
Several institutional investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Public Storage by 4.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,295 shares of the real estate investment trust’s stock valued at $1,347,000 after purchasing an additional 254 shares in the last quarter. Morris Capital Advisors LLC grew its position in shares of Public Storage by 11.5% during the fourth quarter. Morris Capital Advisors LLC now owns 2,565 shares of the real estate investment trust’s stock valued at $536,000 after purchasing an additional 264 shares in the last quarter. Pinebridge Investments L.P. grew its position in shares of Public Storage by 9.6% during the third quarter. Pinebridge Investments L.P. now owns 3,083 shares of the real estate investment trust’s stock valued at $659,000 after purchasing an additional 270 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Public Storage by 18.1% during the fourth quarter. AE Wealth Management LLC now owns 1,812 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 278 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in shares of Public Storage by 2.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock valued at $2,559,000 after purchasing an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 4.06%. Public Storage’s payout ratio is presently 118.87%.
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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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