Public Storage (PSA) Set to Announce Quarterly Earnings on Wednesday

Public Storage (NYSE:PSA) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 28th. Analysts expect the company to announce earnings of $2.69 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, February 24th. The real estate investment trust reported $1.67 EPS for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.27). Public Storage had a net margin of 43.37% and a return on equity of 26.59%. During the same quarter in the prior year, the firm posted $1.87 EPS. On average, analysts expect Public Storage to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Shares of PSA opened at $273.37 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $47.82 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 7.00 and a beta of 0.07. The firm’s fifty day simple moving average is $247.28 and its two-hundred day simple moving average is $233.46. Public Storage has a 12 month low of $172.11 and a 12 month high of $276.29.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 16th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, March 15th. This represents a $8.00 dividend on an annualized basis and a yield of 2.93%. Public Storage’s dividend payout ratio (DPR) is currently 74.42%.

A number of brokerages have commented on PSA. Truist upped their price target on shares of Public Storage from $262.00 to $269.00 in a research report on Tuesday, April 13th. BMO Capital Markets raised shares of Public Storage from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $220.00 to $240.00 in a research report on Thursday, January 28th. Truist Securities increased their price objective on shares of Public Storage from $262.00 to $269.00 in a research report on Wednesday, April 14th. Morgan Stanley increased their price objective on shares of Public Storage from $221.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 18th. Finally, Raymond James raised shares of Public Storage from an “underperform” rating to a “market perform” rating in a research report on Thursday, February 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $229.63.

A hedge fund recently bought a new stake in Public Storage stock. OLD Mission Capital LLC acquired a new stake in Public Storage (NYSE:PSA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,690 shares of the real estate investment trust’s stock, valued at approximately $5,722,000. Institutional investors own 79.99% of the company’s stock.

About Public Storage

Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.

See Also: What is a portfolio manager?

Earnings History for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.