Public Storage(PSA)

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What Analyst Projections for Key Metrics Reveal About Public Storage (PSA) Q4 Earnings
ZACKS· 2025-02-19 15:20
Core Insights - Public Storage (PSA) is expected to report quarterly earnings of $4.23 per share, reflecting a 0.7% increase year-over-year, with revenues projected at $1.18 billion, a 1.5% increase from the previous year [1] - Analysts have revised the consensus EPS estimate 0.1% higher over the last 30 days, indicating a collective reevaluation of initial estimates [1][2] Revenue Estimates - Revenues from self-storage facilities are projected to reach $1.10 billion, indicating a 0.5% year-over-year change [4] - Revenues from ancillary operations are expected to be $74.59 million, representing a significant increase of 10.9% from the prior-year quarter [4] Occupancy and Depreciation - Analysts estimate square foot occupancy to be 92.2%, slightly down from 92.7% reported in the same quarter last year [4] - Depreciation and amortization is expected to be $284.93 million, a decrease from the year-ago figure of $287.53 million [5] Stock Performance - Over the past month, Public Storage shares have recorded a return of +0.5%, compared to the Zacks S&P 500 composite's +4.7% change [6] - PSA holds a Zacks Rank 3 (Hold), suggesting its performance will likely align with the overall market in the upcoming period [6]
1 Magnificent S&P 500 Dividend Stock Down 30%: 4 Reasons to Buy Public Storage in 2025 and Hold Forever
The Motley Fool· 2025-01-12 14:30
Company Overview - Public Storage is the largest self-storage provider in the United States, with half of the U S population living within a trade area of one of its facilities [4] - The company has grown its storage space by 36% since 2019 through $11 7 billion in investments [7] - Public Storage generates 75% of its new customers through its digital eRental program, significantly higher than the 30% average of its REIT peers [9] Financial Performance - Public Storage's sales have grown by 12% over the last two years [2] - The company has a higher-than-average 4 1% dividend yield, which is about 20% above its 10-year average [14][15] - Public Storage's dividend payments have grown more than sixfold over the last two decades, representing a 10% annualized growth rate [14] Market Position and Growth Potential - Public Storage holds a 9% market share in the fragmented U S self-storage market, with 80% of the market consisting of smaller regional and local owners [11][12] - The company is well-positioned to continue consolidating the industry through mergers and acquisitions, supported by its best-in-class credit ratings [12] - Public Storage's high cash return on invested capital (ROIC) indicates its ability to generate substantial cash flows from new investments [10][12] Operational Strengths - Public Storage holds the highest Moody's and S&P Global credit ratings among U S REITs, providing a solid foundation for growth [6] - The company has implemented a digital operating model, with over 2 million customers using its mobile app, offering digital access, a digital care team, live help, and kiosks at each location [8] - Public Storage's digital prowess gives it an advantage in acquiring new customers, particularly among younger, tech-savvy generations [9] Valuation and Investment Appeal - Public Storage's stock has dropped roughly 30% from its highs, leading to a discounted valuation [1][16] - The company trades at 17 times cash from operations (CFO), near a decade-long low, making it an attractive investment despite its industry-leading qualities and growth prospects [16][17] - The combination of a 4 1% dividend yield, expansion potential, and best-in-class operations makes Public Storage a compelling S&P 500 dividend stock to buy in 2025 and hold long-term [17]
Public Storage Stock Rises 26.8% in Six Months: Will the Trend Last?
ZACKS· 2024-12-02 15:10
Shares of Public Storage (PSA) have risen 26.8% in the past six months compared with the industry’s growth of 16.3%.One of the top owners and operators of storage facilities in the United States, Public Storage enjoys a presence in all major metropolitan markets of the country. The ‘Public Storage’ brand is a much-recognized and established name in the self-storage industry.With this self-storage REIT riding high, individuals may rush to add it to their portfolio. However, before making any hasty decision, ...
Public Storage: A Great Business, With Nowhere To Grow
Seeking Alpha· 2024-11-28 07:41
Group 1 - Public Storage (NYSE: PSA) has been operating for over 52 years and is considered a well-run business, but it may face challenges in maintaining its previous growth rates [1] Group 2 - The author emphasizes the importance of long-term investing and believes that informed and disciplined investors can outperform the S&P 500 over time [2]
Public Storage: Wonderful REIT At A Fair Price
Seeking Alpha· 2024-11-21 15:13
I find Public Storage (NYSE: PSA ) to be one of the more interesting REITs out there, given its focus storage unit properties. As the biggest player in the American storage unit market, I believe it distinguishes itself asMy articles are written with a mind to owning a stock for years, not trying to predict price movements in a few months. I don't do target prices; I do valuations.I first entered investing in 2020 as an individual value investor, keen to understand the fundamentals of businesses and buy the ...
Public Storage Q3 FFO Misses Estimates, Occupancy Falls
ZACKS· 2024-10-31 17:06
Core Insights - Public Storage (PSA) reported third-quarter 2024 core funds from operations (FFO) per share of $4.20, missing the Zacks Consensus Estimate of $4.25 and reflecting a 3% year-over-year decline [1] - The company's shares fell by 0.69% in after-hours trading following the earnings release [1] Financial Performance - Quarterly revenues reached $1.19 billion, marking a 3.8% increase year over year and surpassing the Zacks Consensus Estimate of $1.18 billion [2] - Same-store revenues decreased by 1.3% year over year to $926.3 million, attributed to lower realized annual rent per occupied square foot and a decline in occupancy [3] - Realized annual rental income per occupied square foot dropped by 0.8% to $22.71, with a weighted average square foot occupancy of 92.7%, down 0.5% year over year [3] - Same-store net operating income (NOI) decreased by 2.5% to $699.6 million, while NOI growth from non-same-store facilities was $29.8 million due to acquisitions in 2023 [4] Cost and Expenses - The cost of operations for same-store facilities increased by 2.6% year over year, driven by higher direct property costs, repairs, maintenance, and marketing expenses [4] - Interest expenses rose to $74.3 million, up 27.3% from the previous year [5] Balance Sheet and Cash Position - As of the end of the third quarter, Public Storage had $599 million in cash and equivalents, an increase from $370 million at the end of 2023 [6] Portfolio Activity - In the third quarter, Public Storage acquired three self-storage facilities for $24.3 million, adding 0.2 million net rentable square feet [7] - Post-September 30, 2024, the company is under contract to acquire 14 additional self-storage facilities for $181.2 million, totaling 1.2 million net rentable square feet [7] - The company opened one newly developed facility and completed expansion projects, adding 0.5 million net rentable square feet at a cost of $142.6 million [8] - Future developments are expected to add 4 million net rentable square feet at an estimated cost of $712.4 million, with $401.9 million in remaining development costs projected over the next 18 to 24 months [8] Guidance - Public Storage projects 2024 core FFO per share in the range of $16.50-$16.85, consistent with previous guidance, and the Zacks Consensus Estimate of $16.73 falls within this range [9] - The company anticipates a decline of 1.3%-0.5% in same-store revenues, 2%-3.5% growth in same-store expenses, and a decrease of 2.7%-1.3% in same-store NOI for the year [9]
Here's What Key Metrics Tell Us About Public Storage (PSA) Q3 Earnings
ZACKS· 2024-10-30 23:36
Public Storage (PSA) reported $1.19 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 3.8%. EPS of $4.20 for the same period compares to $3.20 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $1.18 billion, representing a surprise of +0.39%. The company delivered an EPS surprise of -1.18%, with the consensus EPS estimate being $4.25. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...
Public Storage (PSA) Misses Q3 FFO Estimates
ZACKS· 2024-10-30 22:26
Core Insights - Public Storage (PSA) reported quarterly funds from operations (FFO) of $4.20 per share, missing the Zacks Consensus Estimate of $4.25 per share, and down from $4.33 per share a year ago, representing an FFO surprise of -1.18% [1] - The company posted revenues of $1.19 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.39%, compared to $1.14 billion in the same quarter last year [2] - Public Storage shares have increased by approximately 8.6% since the beginning of the year, while the S&P 500 has gained 22.3% [3] Financial Performance - Over the last four quarters, Public Storage has surpassed consensus FFO estimates two times and topped consensus revenue estimates three times [2] - The current consensus FFO estimate for the upcoming quarter is $4.22 on revenues of $1.18 billion, and for the current fiscal year, it is $16.73 on revenues of $4.69 billion [7] Market Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [3] - The estimate revisions trend for Public Storage is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The REIT and Equity Trust - Other industry is currently in the top 24% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]
Public Storage(PSA) - 2024 Q3 - Quarterly Report
2024-10-30 20:18
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ____________ to ____________. Commission File Number: 001-33519 Public Storage (Exact name of registrant as specified in its charter) | --- | |---------------------- ...
Public Storage(PSA) - 2024 Q3 - Quarterly Results
2024-10-30 20:17
News Release Public Storage 701 Western Avenue Glendale, CA 91201-2349 www.publicstorage.com | --- | --- | --- | |-------|-------------|--------------------------------------| | | | | | | For Release | Immediately | | | | | | | Date | October 30, 2024 | | | Contact | Ryan Burke (818) 244-8080, Ext. 1141 | Public Storage Reports Results for the Three and Nine Months Ended September 30, 2024 GLENDALE, California – Public Storage (NYSE:PSA) announced today operating results for the three and nine months ended ...