Public Storage (PSA) Scheduled to Post Earnings on Wednesday

Public Storage (NYSE:PSA) will post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Public Storage to post earnings of $4.25 per share for the quarter. Public Storage has set its FY24 guidance at $16.50-$16.85 EPS and its FY 2024 guidance at 16.500-16.850 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The company had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $4.28 EPS. On average, analysts expect Public Storage to post $17 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Public Storage Stock Up 0.9 %

Shares of NYSE PSA opened at $334.98 on Wednesday. The stock has a market capitalization of $58.63 billion, a PE ratio of 31.39, a P/E/G ratio of 4.87 and a beta of 0.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. The firm has a fifty day moving average of $346.44 and a 200-day moving average of $306.11. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Friday, September 13th. Public Storage’s payout ratio is currently 112.46%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PSA shares. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a research note on Thursday, August 1st. Citigroup lifted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Jefferies Financial Group boosted their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada started coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.93.

Public Storage Company Profile

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 December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.