Public Storage (NYSE:PSA) – Equities researchers at Cantor Fitzgerald issued their FY2016 earnings per share (EPS) estimates for Public Storage in a note issued to investors on Tuesday. Cantor Fitzgerald analyst G. Mehta anticipates that the brokerage will earn $9.61 per share for the year. Cantor Fitzgerald has a “Hold” rating on the stock. Cantor Fitzgerald also issued estimates for Public Storage’s FY2017 earnings at $10.45 EPS.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $2.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.51. Public Storage had a net margin of 52.71% and a return on equity of 26.05%. The company earned $663.15 million during the quarter, compared to analysts’ expectations of $624.13 million. During the same quarter in the previous year, the company earned $2.33 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis.

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

A number of other equities research analysts also recently commented on the stock. Robert W. Baird downgraded shares of Public Storage from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $248.00 to $235.00 in a research report on Thursday, January 5th. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 3rd. Argus restated a “buy” rating and issued a $270.00 target price (down previously from $284.00) on shares of Public Storage in a report on Wednesday, November 16th. Barclays PLC restated a “hold” rating and issued a $230.00 target price on shares of Public Storage in a report on Tuesday, November 8th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Public Storage from a “sell” rating to a “neutral” rating and upped their target price for the company from $210.00 to $220.00 in a report on Monday, October 31st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $239.35.

Public Storage (NYSE:PSA) traded down 1.208% on Friday, reaching $214.674. 317,127 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $217.92 and a 200-day moving average price of $224.16. The company has a market capitalization of $37.23 billion, a P/E ratio of 32.880 and a beta of 0.46. Public Storage has a 1-year low of $200.65 and a 1-year high of $277.60.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Stockholders of record on Wednesday, December 14th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Monday, December 12th. This is a boost from Public Storage’s previous quarterly dividend of $1.80. Public Storage’s dividend payout ratio (DPR) is 122.70%.

In other news, insider John Reyes sold 50,000 shares of the firm’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $215.42, for a total value of $10,771,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tamara Hughes Gustavson bought 69,763 shares of Public Storage stock in a transaction dated Friday, November 11th. The stock was purchased at an average price of $214.98 per share, with a total value of $14,997,649.74. Following the purchase, the director now directly owns 16,396,449 shares in the company, valued at approximately $3,524,908,606.02. The disclosure for this purchase can be found here. 14.20% of the stock is currently owned by insiders.

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Several hedge funds have recently added to or reduced their stakes in PSA. Washington Trust Bank boosted its stake in Public Storage by 28.1% in the third quarter. Washington Trust Bank now owns 538 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 118 shares during the period. Quadrant Capital Group LLC boosted its stake in Public Storage by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 516 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 6 shares during the period. WFG Advisors LP boosted its stake in Public Storage by 0.6% in the second quarter. WFG Advisors LP now owns 520 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 3 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Public Storage during the third quarter valued at approximately $142,000. Finally, Blue Chip Partners Inc. boosted its stake in Public Storage by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 596 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 4 shares during the period. Institutional investors own 77.32% of the company’s stock.

About Public Storage

Public Storage is a real estate investment trust. The Company’s 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.

5 Day Chart for NYSE:PSA

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