Public Storage (PSA) Scheduled to Post Earnings on Tuesday

Public Storage (NYSE:PSA) will post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Public Storage to post earnings of $4.07 per share for the quarter. Public Storage has set its FY24 guidance at $16.60-17.20 EPS and its FY 2024 guidance at 16.600-17.200 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Public Storage (NYSE:PSA) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company earned $4.16 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts expect Public Storage to post $17 EPS for the current fiscal year and $18 EPS for the next fiscal year.

Public Storage Trading Down 0.4 %

NYSE PSA opened at $257.73 on Friday. The firm’s 50-day moving average is $278.68 and its two-hundred day moving average is $276.34. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $45.28 billion, a P/E ratio of 23.30, a PEG ratio of 3.39 and a beta of 0.54.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.66%. Public Storage’s dividend payout ratio is presently 108.50%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PSA. Barclays began coverage on shares of Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target on the stock. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. The Goldman Sachs Group increased their price target on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Scotiabank increased their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

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.