Public Storage (NYSE:PSA) released its earnings results on Wednesday. The real estate investment trust reported $2.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.46, Bloomberg Earnings reports. Public Storage had a return on equity of 27.80% and a net margin of 53.35%.
Public Storage (NYSE:PSA) traded down 0.05% during midday trading on Wednesday, reaching $210.00. The company’s stock had a trading volume of 1,062,370 shares. The firm has a market capitalization of $36.54 billion, a PE ratio of 29.96 and a beta of 0.44. The firm has a 50 day moving average price of $213.79 and a 200 day moving average price of $210.93. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.81%. Public Storage’s payout ratio is 113.96%.
In related news, Director Ronald P. Spogli purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average price of $200.59 per share, with a total value of $401,180.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 14.42% of the stock is owned by insiders.
Several equities analysts recently issued reports on PSA shares. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Bank of America Corporation reduced their price objective on Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. Jefferies Group LLC restated a “hold” rating and set a $222.00 price objective on shares of Public Storage in a research note on Friday, July 14th. Barclays PLC restated a “hold” rating and set a $207.00 price objective on shares of Public Storage in a research note on Thursday, October 19th. Finally, BMO Capital Markets started coverage on Public Storage in a research note on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $214.73.
Public Storage Company Profile
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.