Public Storage (NYSE:PSA) – Equities research analysts at Jefferies Financial Group lowered their Q1 2020 earnings estimates for shares of Public Storage in a report released on Monday, August 12th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $2.60 per share for the quarter, down from their prior estimate of $2.62.

Several other equities research analysts have also recently commented on the stock. Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. ValuEngine upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, KeyCorp upgraded shares of Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price target on the stock in a research note on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $222.45.

PSA opened at $258.78 on Thursday. The stock has a market capitalization of $45.09 billion, a P/E ratio of 24.51, a P/E/G ratio of 6.02 and a beta of 0.17. Public Storage has a 12 month low of $193.89 and a 12 month high of $261.05. The firm’s fifty day simple moving average is $247.49 and its 200 day simple moving average is $228.85. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.87). The company had revenue of $710.95 million during the quarter, compared to the consensus estimate of $702.70 million. Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 earnings per share.

In other Public Storage news, Chairman B Wayne Et Al Hughes sold 38,000 shares of Public Storage stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $257.89, for a total value of $9,799,820.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.00% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of PSA. BlackRock Inc. increased its stake in shares of Public Storage by 0.7% during the 1st quarter. BlackRock Inc. now owns 16,103,954 shares of the real estate investment trust’s stock worth $3,507,120,000 after purchasing an additional 112,313 shares during the last quarter. Cohen & Steers Inc. increased its stake in shares of Public Storage by 36.3% during the 2nd quarter. Cohen & Steers Inc. now owns 8,050,898 shares of the real estate investment trust’s stock worth $1,917,482,000 after purchasing an additional 2,142,247 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Public Storage by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,980,811 shares of the real estate investment trust’s stock worth $943,612,000 after purchasing an additional 388,950 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Public Storage by 31.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,966,418 shares of the real estate investment trust’s stock worth $944,681,000 after purchasing an additional 945,431 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Public Storage by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after purchasing an additional 178,705 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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

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