Public Storage (NYSE:PSA) – Research analysts at Cantor Fitzgerald issued their FY2019 earnings per share (EPS) estimates for shares of Public Storage in a research report issued on Tuesday. Cantor Fitzgerald analyst G. Mehta forecasts that the real estate investment trust will earn $10.82 per share for the year. Cantor Fitzgerald currently has a “Hold” rating and a $213.00 price objective on the stock.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 EPS for the quarter, beating the 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 analysts’ expectations of $643.46 million. During the same period in the previous year, the company posted $2.03 EPS. Public Storage’s revenue was up 3.3% on a year-over-year basis.
Several other research firms have also recently commented on PSA. BMO Capital Markets set a $185.00 price target on shares of Public Storage and gave the company a “sell” rating in a report on Tuesday, February 20th. Bank of America cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price target on the stock. in a report on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Jefferies Group set a $199.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research note on Monday, March 5th. Finally, B. Riley set a $190.00 price objective on shares of Public Storage and gave the company a “neutral” rating in a research note on Wednesday, February 21st. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $204.47.
Public Storage (PSA) traded up $2.84 during trading on Thursday, hitting $198.01. 1,136,318 shares of the stock traded hands, compared to its average volume of 1,055,540. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $232.21. The stock has a market cap of $34,001.54, a PE ratio of 29.38, a P/E/G ratio of 3.86 and a beta of 0.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Tuesday, March 13th. Public Storage’s payout ratio is presently 118.69%.
In related news, SVP Lily Yan Hughes sold 443 shares of Public Storage stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $194.53, for a total value of $86,176.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.42% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its position in Public Storage by 4.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 6,295 shares of the real estate investment trust’s stock worth $1,347,000 after acquiring an additional 254 shares during the last quarter. Morris Capital Advisors LLC lifted its position in Public Storage by 11.5% during the 4th quarter. Morris Capital Advisors LLC now owns 2,565 shares of the real estate investment trust’s stock worth $536,000 after acquiring an additional 264 shares during the last quarter. Pinebridge Investments L.P. lifted its position in Public Storage by 9.6% during the 3rd quarter. Pinebridge Investments L.P. now owns 3,083 shares of the real estate investment trust’s stock worth $659,000 after acquiring an additional 270 shares during the last quarter. AE Wealth Management LLC lifted its position in Public Storage by 18.1% during the 4th quarter. AE Wealth Management LLC now owns 1,812 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 278 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in Public Storage by 2.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock worth $2,559,000 after acquiring an additional 279 shares during the last quarter. 81.75% of the stock is owned by hedge funds and other institutional investors.
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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