Q3 2019 EPS Estimates for Public Storage Increased by Analyst (NYSE:PSA)

Public Storage (NYSE:PSA) – Equities research analysts at Jefferies Financial Group increased their Q3 2019 earnings per share estimates for Public Storage in a research note issued to investors on Monday, August 12th. Jefferies Financial Group analyst J. Petersen now forecasts that the real estate investment trust will earn $2.75 per share for the quarter, up from their prior estimate of $2.72. Jefferies Financial Group also issued estimates for Public Storage’s FY2019 earnings at $10.78 EPS, Q4 2020 earnings at $2.92 EPS, Q2 2021 earnings at $2.77 EPS and FY2021 earnings at $11.29 EPS.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.63 by ($0.87). Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The company had revenue of $710.95 million for the quarter, compared to analyst estimates of $702.70 million. During the same quarter in the previous year, the company posted $2.57 earnings per share. Public Storage’s revenue for the quarter was up 3.7% on a year-over-year basis.

A number of other research firms also recently weighed in on PSA. ValuEngine raised shares of Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Finally, KeyCorp raised shares of Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price target for the company in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $222.45.

Shares of PSA stock opened at $259.95 on Wednesday. Public Storage has a 1 year low of $193.89 and a 1 year high of $260.30. The firm’s 50 day moving average is $247.02 and its 200-day moving average is $228.69. The firm has a market capitalization of $45.17 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 6.11 and a beta of 0.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.

In related news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $257.89, for a total transaction of $9,799,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PSA. Ashburton Jersey Ltd bought a new stake in shares of Public Storage during the second quarter worth approximately $32,000. Manchester Financial Inc. bought a new stake in Public Storage in the second quarter valued at approximately $34,000. Aspire Private Capital LLC increased its stake in Public Storage by 232.0% in the first quarter. Aspire Private Capital LLC now owns 166 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in Public Storage by 42.3% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 60 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Public Storage in the first quarter valued at approximately $48,000. 80.03% of the stock is owned by institutional investors and hedge funds.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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

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