Public Storage (PSA) Expected to Earn FY2017 Earnings of $10.20 Per Share
Public Storage (NYSE:PSA) – Equities research analysts at SunTrust Banks dropped their FY2017 earnings estimates for Public Storage in a research report issued on Wednesday. SunTrust Banks analyst K. Kim now forecasts that the real estate investment trust will post earnings of $10.20 per share for the year, down from their prior estimate of $10.22. SunTrust Banks currently has a “Hold” rating and a $200.00 price target on the stock. SunTrust Banks also issued estimates for Public Storage’s Q4 2017 earnings at $2.71 EPS.
PSA has been the subject of several other research reports. FBR & Co set a $220.00 target price on shares of Public Storage and gave the stock a “hold” rating in a report on Thursday, October 26th. BMO Capital Markets initiated coverage on shares of Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 target price for the company. Evercore ISI reissued an “underperform” rating and set a $204.00 target price (up previously from $197.00) on shares of Public Storage in a report on Thursday, September 14th. BidaskClub cut shares of Public Storage from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Barclays PLC reissued a “hold” rating and set a $207.00 target price on shares of Public Storage in a report on Thursday, October 19th. Four equities 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 stock. Public Storage presently has a consensus rating of “Hold” and an average target price of $213.08.
Public Storage (NYSE PSA) opened at $212.79 on Monday. Public Storage has a fifty-two week low of $192.15 and a fifty-two week high of $232.21. The stock has a market cap of $37,034.18, a price-to-earnings ratio of 21.47, a P/E/G ratio of 4.44 and a beta of 0.43.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.76%. Public Storage’s dividend payout ratio is currently 116.79%.
Several hedge funds have recently added to or reduced their stakes in PSA. BB&T Corp acquired a new position in Public Storage during the second quarter worth about $509,000. FineMark National Bank & Trust boosted its position in Public Storage by 27.5% during the second quarter. FineMark National Bank & Trust now owns 1,881 shares of the real estate investment trust’s stock worth $392,000 after acquiring an additional 406 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Public Storage by 0.3% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 5 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in Public Storage by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 8,139 shares of the real estate investment trust’s stock worth $1,697,000 after acquiring an additional 342 shares during the last quarter. Finally, NGAM Advisors L.P. boosted its position in Public Storage by 3.4% during the second quarter. NGAM Advisors L.P. now owns 67,773 shares of the real estate investment trust’s stock worth $14,132,000 after acquiring an additional 2,232 shares during the last quarter. 80.31% of the stock is 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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