Public Storage (NYSE:PSA) – Stock analysts at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for Public Storage in a research note issued to investors on Monday. Jefferies Group analyst G. Hoglund now anticipates that the real estate investment trust will post earnings per share of $2.60 for the quarter, down from their previous estimate of $2.61. Jefferies Group currently has a “Hold” rating and a $210.00 target price on the stock.

Several other analysts also recently weighed in on the company. KeyCorp reiterated a “sell” rating and issued a $184.00 price objective on shares of Public Storage in a research report on Wednesday, September 13th. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Evercore ISI reiterated an “underperform” rating and issued a $204.00 price objective (up previously from $197.00) on shares of Public Storage in a research report on Thursday, September 14th. Barclays PLC lowered their price objective on Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 18th. Finally, BMO Capital Markets initiated coverage on Public Storage in a research report on Monday, September 11th. They issued an “underperform” rating and a $193.00 price objective for the company. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. Public Storage presently has a consensus rating of “Hold” and a consensus price target of $214.73.

TRADEMARK VIOLATION NOTICE: “Research Analysts Offer Predictions for Public Storage’s Q3 2017 Earnings (PSA)” was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this story on another site, it was copied illegally and reposted in violation of international copyright and trademark laws. The correct version of this story can be viewed at https://theolympiareport.com/2017/10/19/research-analysts-offer-predictions-for-public-storages-q3-2017-earnings-psa.html.

Shares of Public Storage (PSA) opened at 214.67 on Tuesday. The firm has a market cap of $37.35 billion, a P/E ratio of 30.62 and a beta of 0.44. Public Storage has a 52-week low of $192.15 and a 52-week high of $232.21. The firm’s 50-day moving average is $213.01 and its 200-day moving average is $211.24.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.95). The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.40 EPS.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.73%. Public Storage’s payout ratio is 113.96%.

In other news, Director Ronald P. Spogli purchased 2,000 shares of Public Storage stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.42% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PSA. BlackRock Inc. grew its stake in Public Storage by 2,552.4% in the first quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock worth $3,101,367,000 after purchasing an additional 13,633,185 shares during the period. Capital World Investors grew its stake in Public Storage by 93.3% in the second quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock worth $841,627,000 after purchasing an additional 1,948,000 shares during the period. Vanguard Group Inc. grew its stake in Public Storage by 3.4% in the second quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after purchasing an additional 727,573 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Public Storage by 87.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,477,786 shares of the real estate investment trust’s stock worth $323,502,000 after purchasing an additional 688,042 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in Public Storage by 3,791.5% in the second quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock worth $133,832,000 after purchasing an additional 625,297 shares during the period. 80.04% of the stock is currently owned by 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.

Earnings History and Estimates 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 Analyst Ratings Network's FREE daily email newsletter.