Public Storage (NYSE:PSA) – Investment analysts at FBR & Co decreased their Q3 2017 earnings estimates for shares of Public Storage in a research note issued to investors on Wednesday. FBR & Co analyst D. Corak now anticipates that the real estate investment trust will earn $2.56 per share for the quarter, down from their prior forecast of $2.66. FBR & Co also issued estimates for Public Storage’s Q4 2017 earnings at $2.61 EPS, FY2017 earnings at $9.82 EPS, Q2 2018 earnings at $2.57 EPS, Q3 2018 earnings at $2.60 EPS and Q4 2018 earnings at $2.70 EPS.

A number of other brokerages also recently weighed in on PSA. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Cantor Fitzgerald lowered their target price on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, May 22nd. Bank of America Corporation lowered their target price on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Jefferies Group LLC reissued a “hold” rating and set a $222.00 target price on shares of Public Storage in a research note on Friday, July 14th. Finally, Barclays PLC lifted their target price on shares of Public Storage from $222.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $224.67.

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Shares of Public Storage (NYSE:PSA) traded up 1.344% on Friday, hitting $200.945. The stock had a trading volume of 315,750 shares. Public Storage has a 12-month low of $192.15 and a 12-month high of $243.94. The firm has a market capitalization of $34.93 billion, a P/E ratio of 28.543 and a beta of 0.41. The company has a 50 day moving average of $208.61 and a 200-day moving average of $216.53.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the consensus estimate of $2.54 by $0.95. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. Public Storage had a return on equity of 27.74% and a net margin of 54.13%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.40 earnings per share.

Large investors have recently bought and sold shares of the company. Hanson McClain Inc. boosted its position in Public Storage by 0.3% in the first quarter. Hanson McClain Inc. now owns 685 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 2 shares during the period. Quadrant Capital Group LLC boosted its position in 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 period. Merriman Wealth Management LLC boosted its position in Public Storage by 0.3% in the first quarter. Merriman Wealth Management LLC now owns 1,915 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 5 shares during the period. Guardian Life Insurance Co. of America boosted its position in 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 period. Finally, Diamond Hill Capital Management Inc. boosted its position in Public Storage by 0.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 5 shares during the period. 79.63% of the stock is owned by institutional investors.

In other news, insider John Reyes sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total transaction of $12,426,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.42% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage’s payout ratio is presently 113.96%.

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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