Analysts forecast that Public Storage (NYSE:PSA) will report sales of $667.63 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Public Storage’s earnings. The lowest sales estimate is $660.65 million and the highest is $672.03 million. Public Storage reported sales of $645.55 million in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The company is expected to issue its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Public Storage will report full-year sales of $667.63 million for the current fiscal year, with estimates ranging from $2.69 billion to $2.86 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.83 billion per share, with estimates ranging from $2.68 billion to $2.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Public Storage.
Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 EPS for the quarter, beating the Zacks’ consensus estimate of $2.72 by $0.03. Public Storage had a net margin of 51.16% and a return on equity of 27.48%. The business had revenue of $634.22 million for the quarter, compared to analyst estimates of $643.46 million. During the same quarter last year, the business earned $2.03 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis.
In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the transaction, the director now directly owns 8,350 shares in the company, valued at approximately $1,770,951.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 14.42% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Chevy Chase Trust Holdings Inc. grew its position in Public Storage by 1.3% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 130,513 shares of the real estate investment trust’s stock worth $27,929,000 after purchasing an additional 1,713 shares in the last quarter. Janus Henderson Group PLC grew its position in Public Storage by 34.5% during the 3rd quarter. Janus Henderson Group PLC now owns 139,384 shares of the real estate investment trust’s stock worth $29,821,000 after purchasing an additional 35,776 shares in the last quarter. Wells Fargo & Company MN grew its position in Public Storage by 14.6% during the 4th quarter. Wells Fargo & Company MN now owns 620,227 shares of the real estate investment trust’s stock worth $129,627,000 after purchasing an additional 79,046 shares in the last quarter. Trust Co purchased a new position in Public Storage during the 3rd quarter worth approximately $294,000. Finally, UBS Asset Management Americas Inc. grew its position in Public Storage by 13.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 872,138 shares of the real estate investment trust’s stock worth $182,277,000 after purchasing an additional 106,063 shares in the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.
Public Storage (NYSE PSA) traded up $0.15 during midday trading on Wednesday, hitting $199.96. 884,128 shares of the company were exchanged, compared to its average volume of 1,210,000. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $232.21. The firm has a market capitalization of $34,830.00, a price-to-earnings ratio of 29.71, a PEG ratio of 3.95 and a beta of 0.31.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, March 13th. Public Storage’s payout ratio is 118.87%.
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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