Public Storage (NYSE:PSA) - Jefferies Group reduced their Q2 2017 EPS estimates for Public Storage in a research note issued on Friday. Jefferies Group analyst G. Hoglund now forecasts that the real estate investment trust will post earnings per share of $2.53 for the quarter, down from their prior estimate of $2.54. Jefferies Group currently has a “Hold” rating and a $222.00 price target on the stock. Jefferies Group also issued estimates for Public Storage’s FY2018 earnings at $10.80 EPS.
Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share for the quarter, missing the consensus estimate of $2.42 by $0.05. Public Storage had a return on equity of 27.74% and a net margin of 54.13%. The business had revenue of $645.55 million during the quarter, compared to the consensus estimate of $615.23 million. During the same quarter in the prior year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis.
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A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Cantor Fitzgerald decreased their price objective on Public Storage from $222.00 to $216.00 and set a “neutral” rating on the stock in a report on Monday, May 22nd. Barclays PLC raised their price objective on Public Storage from $222.00 to $224.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. BMO Capital Markets restated a “hold” rating and issued a $210.00 price objective on shares of Public Storage in a report on Wednesday, March 22nd. Finally, BidaskClub upgraded Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $225.27.
Shares of Public Storage (NYSE:PSA) opened at 207.21 on Monday. Public Storage has a 12 month low of $200.65 and a 12 month high of $255.21. The company has a 50-day moving average of $211.93 and a 200 day moving average of $218.32. The company has a market cap of $36.02 billion, a PE ratio of 29.43 and a beta of 0.41.
Several institutional investors have recently made changes to their positions in PSA. Mascoma Wealth Management LLC boosted its position in shares of Public Storage by 128.0% in the first quarter. Mascoma Wealth Management LLC now owns 456 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 256 shares during the last quarter. Israel Discount Bank of New York bought a new position in shares of Public Storage during the first quarter valued at about $100,000. CENTRAL TRUST Co boosted its position in shares of Public Storage by 41.3% in the second quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 169 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 5 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Public Storage by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 629 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.
In related news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $207.11, for a total transaction of $12,426,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 14.42% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Wednesday, June 14th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Monday, June 12th. Public Storage’s dividend payout ratio (DPR) is 113.64%.
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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