Public Storage (NYSE:PSA) – Research analysts at SunTrust Banks lowered their Q4 2017 earnings estimates for shares of Public Storage in a report released on Friday. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $2.78 per share for the quarter, down from their prior estimate of $2.82. SunTrust Banks also issued estimates for Public Storage’s FY2018 earnings at $10.70 EPS, FY2019 earnings at $11.00 EPS, FY2020 earnings at $11.39 EPS and FY2021 earnings at $11.77 EPS.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by $0.05. Public Storage had a net margin of 54.13% and a return on equity of 27.74%. The company had revenue of $645.55 million for the quarter, compared to analysts’ expectations of $615.23 million. During the same period last year, the business earned $2.21 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.

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PSA has been the subject of a number of other reports. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 12th. Barclays PLC lowered their price target on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. BidaskClub raised shares of Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and set a $222.00 price objective on shares of Public Storage in a research report on Friday, July 14th. Finally, Bank of America Corporation reduced their price objective on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $224.67.

Shares of Public Storage (NYSE:PSA) opened at 208.94 on Monday. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 29.68 and a beta of 0.41. The firm’s 50-day moving average is $209.22 and its 200-day moving average is $217.16. Public Storage has a one year low of $200.65 and a one year high of $255.21.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.83%. The ex-dividend date was Monday, June 12th. Public Storage’s dividend payout ratio is currently 113.64%.

In other Public Storage news, insider John Reyes sold 65,000 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $208.44, for a total transaction of $13,548,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.42% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of PSA. Gulf International Bank UK Ltd boosted its position in shares of Public Storage by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 46,110 shares of the real estate investment trust’s stock valued at $10,093,000 after buying an additional 600 shares during the period. Creative Planning boosted its position in shares of Public Storage by 0.3% in the first quarter. Creative Planning now owns 9,099 shares of the real estate investment trust’s stock valued at $1,992,000 after buying an additional 25 shares during the period. Curbstone Financial Management Corp boosted its position in shares of Public Storage by 29.6% in the first quarter. Curbstone Financial Management Corp now owns 1,312 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 300 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Public Storage by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 128,787 shares of the real estate investment trust’s stock valued at $28,193,000 after buying an additional 4,148 shares during the period. Finally, Private Asset Management Inc. boosted its position in shares of Public Storage by 6.3% in the first quarter. Private Asset Management Inc. now owns 1,680 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 79.63% of the company’s stock.

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.

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

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