Public Storage (PSA) Releases Earnings Results, Misses Estimates By $0.95 EPS

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

Shares of Public Storage (NYSE PSA) traded up 0.01% on Wednesday, reaching $201.60. The company’s stock had a trading volume of 75,535 shares. The stock has a 50-day moving average of $205.09 and a 200 day moving average of $214.86. The company has a market cap of $35.08 billion, a price-to-earnings ratio of 28.76 and a beta of 0.41. Public Storage has a 52-week low of $192.15 and a 52-week high of $233.39.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.97%. Public Storage’s dividend payout ratio (DPR) is currently 113.96%.

A number of equities research analysts have recently weighed in on PSA shares. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cantor Fitzgerald dropped their price target on Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, May 22nd. Bank of America Corporation dropped their price target on Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $222.00 target price on shares of Public Storage in a research report on Friday, July 14th. Finally, Barclays PLC lifted their target price on Public Storage from $222.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $221.64.

In other Public Storage news, Director Ronald P. Spogli bought 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average cost of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Public Storage (PSA) Releases Earnings Results, Misses Estimates By $0.95 EPS” was reported by BBNS and is owned by of BBNS. If you are viewing this piece of content on another publication, it was stolen and republished in violation of international trademark & copyright legislation. The legal version of this piece of content can be read at https://baseballnewssource.com/markets/public-storage-psa-issues-earnings-results-updated-updated/1307889.html.

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 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 our FREE daily email newsletter.

 


Latest News

Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns
Darren Daulton Former Catcher with Phillies Dies
Darren Daulton Former Catcher with Phillies Dies


Leave a Reply

 
© 2006-2017 BBNS.