Public Storage (NYSE:PSA) – Research analysts at Jefferies Financial Group raised their Q2 2021 earnings estimates for Public Storage in a research note issued to investors on Monday, October 14th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings per share of $2.78 for the quarter, up from their prior forecast of $2.77. Jefferies Financial Group also issued estimates for Public Storage’s FY2021 earnings at $11.31 EPS.

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

A number of other equities research analysts have also recently commented on PSA. Citigroup increased their price target on Public Storage from $223.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, September 11th. Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Argus increased their price target on Public Storage to $290.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. They noted that the move was a valuation call. SunTrust Banks increased their price target on Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Finally, Robert W. Baird upgraded Public Storage from an “underperform” rating to a “neutral” rating and increased their price target for the company from $200.00 to $254.00 in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Public Storage presently has an average rating of “Hold” and an average price target of $246.43.

Shares of PSA stock opened at $242.05 on Tuesday. Public Storage has a 1-year low of $193.89 and a 1-year high of $266.76. The stock’s 50-day moving average is $250.68 and its 200 day moving average is $240.60. The company has a market cap of $42.94 billion, a P/E ratio of 22.92, a PEG ratio of 5.70 and a beta of 0.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.88 and a quick ratio of 0.88.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Wednesday, September 11th. Public Storage’s dividend payout ratio (DPR) is presently 75.76%.

In other news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $257.89, for a total value of $9,799,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 278,000 shares of company stock valued at $72,725,820. 14.00% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Public Storage by 2.8% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,592 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 44 shares during the last quarter. Tower View Investment Management & Research LLC raised its stake in shares of Public Storage by 7.8% in the second quarter. Tower View Investment Management & Research LLC now owns 623 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 45 shares during the last quarter. 6 Meridian raised its stake in shares of Public Storage by 2.0% in the second quarter. 6 Meridian now owns 2,364 shares of the real estate investment trust’s stock worth $563,000 after purchasing an additional 46 shares during the last quarter. Advisors Capital Management LLC raised its stake in shares of Public Storage by 4.6% in the second quarter. Advisors Capital Management LLC now owns 1,087 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 48 shares during the last quarter. Finally, Cetera Advisors LLC raised its stake in shares of Public Storage by 1.8% in the second quarter. Cetera Advisors LLC now owns 2,717 shares of the real estate investment trust’s stock worth $645,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.

About Public Storage

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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