Public Storage (NYSE:PSA) – Investment analysts at Truist Securiti increased their Q2 2021 earnings estimates for Public Storage in a report issued on Monday, June 21st. Truist Securiti analyst K. Kim now expects that the real estate investment trust will earn $2.96 per share for the quarter, up from their prior estimate of $2.89. Truist Securiti also issued estimates for Public Storage’s Q3 2021 earnings at $2.97 EPS, FY2021 earnings at $11.84 EPS, FY2022 earnings at $12.51 EPS and FY2025 earnings at $14.83 EPS.
Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 28th. The real estate investment trust reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.49). Public Storage had a net margin of 43.22% and a return on equity of 27.74%. The business had revenue of $647.80 million for the quarter, compared to analysts’ expectations of $753.27 million. During the same quarter in the previous year, the company posted $2.58 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year.
Shares of NYSE PSA opened at $302.45 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.62. The company has a market cap of $52.92 billion, a P/E ratio of 45.14, a P/E/G ratio of 4.23 and a beta of 0.08. Public Storage has a 52 week low of $183.22 and a 52 week high of $305.59. The business has a 50-day moving average of $281.40.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, June 14th. Public Storage’s dividend payout ratio (DPR) is presently 75.40%.
In other Public Storage news, VP Nathaniel A. Vitan sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $293.10, for a total value of $1,172,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.87% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. IronBridge Private Wealth LLC bought a new position in Public Storage in the 4th quarter worth $27,000. Arkadios Wealth Advisors lifted its holdings in Public Storage by 373.1% in the first quarter. Arkadios Wealth Advisors now owns 123 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 97 shares during the period. Childress Capital Advisors LLC bought a new stake in Public Storage during the 4th quarter valued at approximately $42,000. Glassman Wealth Services boosted its position in Public Storage by 62.5% during the 1st quarter. Glassman Wealth Services now owns 169 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 65 shares in the last quarter. Finally, Burleson & Company LLC bought a new position in shares of Public Storage in the 1st quarter worth approximately $49,000. 77.82% of the stock is owned by institutional investors.
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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 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 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the ÂShurgardÂ 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 September 30, 2020.
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