Wall Street brokerages forecast that Public Storage (NYSE:PSA) will report sales of $676.62 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Public Storage’s earnings. The highest sales estimate is $685.40 million and the lowest is $666.20 million. Public Storage posted sales of $651.43 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The business is expected to issue its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Public Storage will report full-year sales of $676.62 million for the current year, with estimates ranging from $2.66 billion to $2.69 billion. For the next financial year, analysts expect that the firm will post sales of $2.75 billion per share, with estimates ranging from $2.67 billion to $2.79 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Public Storage.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.99). Public Storage had a net margin of 52.48% and a return on equity of 27.78%.

PSA has been the topic of a number of recent analyst reports. BMO Capital Markets set a $193.00 price target on shares of Public Storage and gave the company a “sell” rating in a research report on Thursday, October 26th. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the company a “hold” rating in a research report on Tuesday, November 28th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the company a “hold” rating in a research report on Thursday, October 26th. Morgan Stanley lowered shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price target on the stock. in a research report on Wednesday, December 13th. Finally, SunTrust Banks reissued a “hold” rating and set a $200.00 price target on shares of Public Storage in a research report on Friday, October 27th. Seven investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $209.38.

Public Storage (NYSE PSA) opened at $193.55 on Monday. Public Storage has a 12 month low of $192.15 and a 12 month high of $232.21. The firm has a market cap of $33,685.64, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 4.00 and a beta of 0.44.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 4.13%. The ex-dividend date was Tuesday, December 12th. Public Storage’s dividend payout ratio is 116.79%.

In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the sale, the director now owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. Insiders own 14.42% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its position in Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 75 shares during the period. IHT Wealth Management LLC raised its position in Public Storage by 43.0% in the second quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 175 shares during the period. Cable Hill Partners LLC raised its position in Public Storage by 139.9% in the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 459 shares during the period. D.A. Davidson & CO. raised its position in Public Storage by 23.8% in the second quarter. D.A. Davidson & CO. now owns 885 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 170 shares during the period. Finally, Grimes & Company Inc. bought a new stake in Public Storage in the third quarter worth about $204,000. 80.64% of the stock is currently owned by institutional investors and hedge funds.

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About Public Storage

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

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