Public Storage (PSA) Beats Q2 FFO Estimates, Trims Guidance
Public Storage's (PSA) Q2 results reflect lower realized annual rent per occupied square foot and a decline in occupancy.
Public Storage (PSA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for Public Storage (PSA) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Public Storage (PSA) Tops Q2 FFO Estimates
Public Storage (PSA) came out with quarterly funds from operations (FFO) of $4.23 per share, beating the Zacks Consensus Estimate of $4.20 per share. This compares to FFO of $4.28 per share a year ago.
What's in Store for Public Storage (PSA) in Q2 Earnings?
Public Storage's (PSA) Q2 results are likely to reflect gains from high brand value and solid presence in key cities, though softening in demand and high interest expenses remain concerns.
Unveiling Public Storage (PSA) Q2 Outlook: Wall Street Estimates for Key Metrics
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Public Storage (PSA), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.
Public Storage (PSA) Rises 19% in 3 Months: Will the Trend Last?
While high brand value, strategic acquisitions, presence in key cities and a healthy balance sheet are key drivers for Public Storage (PSA), softening demand and high interest rates remain concerns.
4%-Yielding Public Storage - One Of The Best REITs On The Market
Public Storage stands out despite a mixed dividend history, thanks to its vast footprint and strategic expansion, making it a key player in the self-storage market. PSA's robust performance, leveraging technology and maintaining high occupancy rates, showcases its resilience amid economic challenges and strong future growth potential. Trading at a favorable valuation, PSA's projected double-digit returns reaffirm its status as a cornerstone of my investment strategy, solidifying its long-term value.
Why You Should Retain Public Storage (PSA) Stock for Now
Public Storage (PSA) is poised to gain from high brand value, strategic acquisitions and a robust presence in key cities. However, weaker demand, a development boom and high interest rates are concerns.
Public Storage: Strong FFO Growth, Low Pay-Out Ratio And A 4.4% Yield
Public Storage is a well-managed storage real estate investment trust with a national lease platform and a taste for acquisitions. The trust is experiencing super-charged funds from operations growth and has a low dividend pay-out ratio, making it an attractive option for passive income investors. However, there is a risk that the trust's funds from operations growth may slow in the future, potentially impacting dividend growth.
Public Storage Has Crashed: Buy, Hold, Or Sell?
Public Storage is historically cheap. Its share price has crashed even as the company kept growing. Is now a good time to invest in the stock? I explain why I am not investing.
Quadrant Capital Group LLC Has $272,000 Stock Holdings in Public Storage (NYSE:PSA)
Quadrant Capital Group LLC lowered its position in shares of Public Storage (NYSE:PSA – Free Report) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 891 shares of the real estate investment trust’s stock after selling 267 shares during the quarter. Quadrant Capital Group LLC’s holdings in Public Storage were worth $272,000 at the end of the most recent reporting period. Several other hedge funds also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. grew its stake in Public Storage by 7.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,293 shares of the real estate investment trust’s stock valued at $868,000 after purchasing an additional 242 shares in the last quarter. Seven Post Investment Office LP grew its stake in shares of Public Storage by 1.2% in the third quarter. Seven Post Investment Office LP now owns 28,292 shares of the real estate investment trust’s stock valued at $7,456,000 after buying an additional 326 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Public Storage by 4.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 43 shares in the last quarter. Hartford Funds Management Co LLC increased its holdings in Public Storage by 9.0% during the third quarter. Hartford Funds Management Co LLC now owns 1,339 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 110 shares during the last quarter. Finally, West Coast Financial LLC raised its position in Public Storage by 1.8% during the third quarter. West Coast Financial LLC now owns 22,808 shares of the real estate investment trust’s stock worth $6,010,000 after acquiring an additional 400 shares in the last quarter. 78.79% of the stock is owned by institutional investors. Analysts Set New Price Targets A number of research analysts have recently commented on the stock. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective for the company in a research report on Thursday, March 28th. Scotiabank boosted their price target on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft started coverage on Public Storage in a research note on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price for the company. Finally, BMO Capital Markets increased their price target on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $305.00. View Our Latest Stock Report on PSA Insider Transactions at Public Storage In other news, Director Kristy Pipes bought 2,149 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the transaction, the director now owns 2,149 shares of the company’s stock, valued at $599,485.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by insiders. Public Storage Trading Up 0.6 % Shares of Public Storage stock opened at $288.67 on Monday. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The stock has a market cap of $50.73 billion, a PE ratio of 26.22, a PEG ratio of 3.79 and a beta of 0.57. The firm has a 50-day moving average of $275.41 and a 200-day moving average of $278.44. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. Public Storage (NYSE:PSA – Get Free Report) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.16 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.92 EPS for the current year. Public Storage Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is currently 108.99%. Public Storage Company Profile (Free Report) 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 December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.
Here's Why Public Storage (PSA) is an Apt Portfolio Pick Now
Public Storage (PSA) is likely to ride the growth curve backed by its solid presence in major metropolitan markets, strategic acquisitions and development, and a solid balance sheet position.
