Public Storage Forecasted to Post Q4 2017 Earnings of $2.63 Per Share (PSA)
Public Storage (NYSE:PSA) – Analysts at KeyCorp issued their Q4 2017 earnings estimates for Public Storage in a research report issued on Tuesday. KeyCorp analyst T. Thomas anticipates that the real estate investment trust will post earnings per share of $2.63 for the quarter. KeyCorp currently has a “Sell” rating and a $184.00 target price on the stock. KeyCorp also issued estimates for Public Storage’s FY2018 earnings at $10.60 EPS.
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Several other research analysts have also recently commented on the company. SunTrust Banks, Inc. reissued a “hold” rating and set a $200.00 price target on shares of Public Storage in a research report on Friday, October 27th. FBR & Co set a $220.00 price objective on Public Storage and gave the company a “hold” rating in a research report on Thursday, October 26th. BMO Capital Markets set a $193.00 target price on Public Storage and gave the stock a “sell” rating in a research note on Thursday, October 26th. Barclays PLC reiterated a “hold” rating and issued a $207.00 price objective on shares of Public Storage in a research note on Thursday, October 19th. Finally, Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $212.45.
Public Storage (NYSE:PSA) opened at $208.97 on Thursday. The stock has a market cap of $36.25 billion, a P/E ratio of 21.02, a P/E/G ratio of 4.33 and a beta of 0.43.
Large investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. increased its stake in shares of Public Storage by 9.0% in the first quarter. OppenheimerFunds Inc. now owns 1,474 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 122 shares during the period. Gotham Asset Management LLC lifted its holdings in Public Storage by 241.9% during the first quarter. Gotham Asset Management LLC now owns 3,795 shares of the real estate investment trust’s stock valued at $831,000 after purchasing an additional 2,685 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Public Storage during the first quarter valued at $500,000. Piedmont Investment Advisors LLC lifted its holdings in Public Storage by 21.5% during the first quarter. Piedmont Investment Advisors LLC now owns 38,228 shares of the real estate investment trust’s stock valued at $8,368,000 after purchasing an additional 6,769 shares in the last quarter. Finally, PHH Investments Ltd. purchased a new position in Public Storage during the first quarter valued at $1,182,000. 80.38% of the stock is owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.83%. Public Storage’s payout ratio is 116.79%.
About Public Storage
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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