FY2018 Earnings Estimate for Public Storage (PSA) Issued By Jefferies Group
Public Storage (NYSE:PSA) – Equities researchers at Jefferies Group increased their FY2018 earnings per share estimates for shares of Public Storage in a research report issued on Monday. Jefferies Group analyst G. Hoglund now anticipates that the real estate investment trust will post earnings per share of $10.71 for the year, up from their prior estimate of $10.67. Jefferies Group currently has a “Hold” rating and a $210.00 price objective on the stock.
PSA has been the topic of a number of other research reports. KeyCorp reissued a “sell” rating and set a $184.00 price objective on shares of Public Storage in a research report on Wednesday, September 13th. Evercore ISI reissued an “underperform” rating and set a $204.00 price objective (up previously from $197.00) on shares of Public Storage in a research report on Thursday, September 14th. Barclays PLC cut their price objective on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, BidaskClub cut shares of Public Storage from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. 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. The stock has a consensus rating of “Hold” and a consensus price target of $214.91.
Shares of Public Storage (NYSE:PSA) traded down 0.526% during mid-day trading on Wednesday, hitting $214.745. The stock had a trading volume of 169,909 shares. The company has a market cap of $37.37 billion, a P/E ratio of 30.634 and a beta of 0.44. The firm’s 50 day moving average price is $212.26 and its 200 day moving average price is $211.25. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.95). The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.40 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.71%. Public Storage’s payout ratio is 113.96%.
In other Public Storage news, Director Ronald P. Spogli purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average price of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 14.42% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PSA. BlackRock Inc. lifted its position in Public Storage by 2,552.4% in the 1st quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock valued at $3,101,367,000 after acquiring an additional 13,633,185 shares in the last quarter. Capital World Investors lifted its position in Public Storage by 93.3% in the 2nd quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock valued at $841,627,000 after acquiring an additional 1,948,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Public Storage by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock valued at $4,599,567,000 after acquiring an additional 727,573 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Public Storage by 3,791.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock valued at $133,832,000 after acquiring an additional 625,297 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Public Storage by 20.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock valued at $659,280,000 after acquiring an additional 537,289 shares in the last quarter. 80.04% of the stock is currently owned by institutional investors and hedge funds.
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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