Q4 2024 EPS Estimates for Public Storage Lifted by Analyst (NYSE:PSA)

Public Storage (NYSE:PSA - Free Report) - Research analysts at Zacks Research boosted their Q4 2024 earnings per share estimates for Public Storage in a research note issued to investors on Tuesday, March 12th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings per share of $4.20 for the quarter, up from their previous estimate of $4.18. The consensus estimate for Public Storage's current full-year earnings is $16.91 per share. Zacks Research also issued estimates for Public Storage's Q1 2025 earnings at $4.25 EPS, Q2 2025 earnings at $4.39 EPS, Q3 2025 earnings at $4.49 EPS, Q4 2025 earnings at $4.45 EPS and FY2025 earnings at $17.57 EPS.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.16 EPS.

A number of other brokerages also recently commented on PSA. The Goldman Sachs Group lifted their price objective on Public Storage from $307.00 to $340.00 and gave the company a "buy" rating in a research report on Thursday, January 11th. Evercore ISI boosted their price target on Public Storage from $268.00 to $271.00 and gave the company an "in-line" rating in a research report on Monday, November 27th. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research report on Tuesday, January 30th. They set a "sell" rating and a $250.00 price target for the company. Truist Financial boosted their price target on Public Storage from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, December 28th. Finally, Scotiabank initiated coverage on Public Storage in a research report on Tuesday, February 13th. They set a "sector perform" rating and a $267.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $293.00.

Public Storage Trading Down 1.3 %

Shares of NYSE:PSA traded down $3.60 during midday trading on Friday, reaching $277.04. The company's stock had a trading volume of 1,651,289 shares, compared to its average volume of 780,025. The firm has a market cap of $48.67 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.79 and a beta of 0.54. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a 1 year low of $233.18 and a 1 year high of $316.48. The business has a 50 day moving average price of $286.85 and a 200 day moving average price of $275.10.

Institutional Trading of Public Storage

Several hedge funds and other institutional investors have recently bought and sold shares of PSA. Norges Bank bought a new position in shares of Public Storage during the fourth quarter valued at approximately $821,151,000. Capital International Investors grew its holdings in shares of Public Storage by 37.3% during the second quarter. Capital International Investors now owns 7,504,560 shares of the real estate investment trust's stock valued at $2,190,431,000 after purchasing an additional 2,037,973 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Public Storage by 111,535.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,246,968 shares of the real estate investment trust's stock worth $349,388,000 after buying an additional 1,245,851 shares in the last quarter. Second Half Financial Partners LLC bought a new position in Public Storage in the 3rd quarter worth approximately $290,129,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Public Storage by 63.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust's stock worth $832,580,000 after buying an additional 1,071,347 shares in the last quarter. 78.75% of the stock is owned by institutional investors.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.33%. The ex-dividend date is Tuesday, March 12th. Public Storage's dividend payout ratio is currently 108.50%.

About Public Storage

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.