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INX:PSA, Aug 17, 03:48 UTC

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Tuesday, August 14


News

Here's Why You Should Hold Public Storage (PSA) Stock Now

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Here's Why You Should Hold Public Storage (PSA) Stock Now. Public Storage PSA has been banking on growth opportunities through a series of acquisitions, of late. This has made the company well poised to benefit from the robust industry fundamentals and favorable market demographics. However, stiff competition in the self-storage industry has compelled the company to keep its pricing down, affecting the top line.The ‘Public Storage’ brand is the most recognized and established name in the self-storage industry, with presence in all major metropolitan markets of the United States. In fact, as of Jun 30, 2018, it had several facilities in development (2.2 million net rentable square feet), with an estimated cost of $315 million, as well as expansion projects (3.9 million net rentable square feet) worth roughly $364 million.Public Storage estimates to incur the remaining $445 million of development costs related to these projects mainly over the next 18 months.

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Monday, August 13


News

Public Storage Boosts Presence in Minnesota, Adds Six Sites

PSA

This, in turn, is spurring demand for storage facilities and giving ample scope to storage facility providers like Public Storage to capitalize.In fact, the company, a recognized and established name in the self-storage industry in the United States, has been benefiting from robust industry fundamentals and favorable demographics in its markets.The company has been capitalizing on growth opportunities and since the beginning of 2013 through Jun 30, 2018, Public Storage has acquired 276 facilities with 19.4 million net rentable square feet from third parties, for around $2.5 billion. Such acquisitions and expansions bode well for long-term growth.Nonetheless, supply has been rising in a number of markets. Also, rate hike adds to its woes.Shares of Public Storage have outperformed the industry it belongs to, in the past six months. This Zacks Rank #3 (Hold) company’s shares have logged in a gain of 15.0%, while the industry has rallied 9.7% during the same time period.Stocks to ConsiderA few better-ranked stocks from the real estate space are Outfront Media Inc. OUT, PS Business Parks, Inc. PSB and W. P. Carey Inc. WPC. While Outfront Media sports a Zacks Rank #1 (Strong Buy), PS Business Parks and W. P. Carey carry Zacks Rank of 2 (Buy).

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Thursday, August 02


News

Public Storage (PSA) Q2 2018 Earnings Conference Call Transcript

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This quarter, we continued to see the resiliency of our business in the face of the supply pressure impacting the self storage industry. Going into '19, there's some commentary and data out there that potentially points to a slow-down in deliveries, but realistically that, to some degree, is just the way the development business works. Some of the things that can prolong or delay deliveries include time [inaudible] entitlement approvals or permit approvals. There could also be delays again based on any particular developer's view of market conditions, costs tied to either labor or materials, particularly steel in the case of self-storage properties. But all that said, we're still in an environment, more often than not, and market-to-market, where developers are still seeing healthy returns when they can build a property that ultimately will yield anything from a 8% to 9% return and potentially flip it for a 5% or a 6%. Whether those development margins are more extreme or elevated, let's say 8% or even tapered down in half, there still a lot of fuel out there in capital that's putting development dollars into this cycle. It includes properties that are currently flagged by other operators, both public and private, and it includes operators that are just running the properties themselves. So, we're seeing a good combination. As I mentioned, that has really be without us actually going intentionally out to markets yet in an outbound way. So, again, out of the gates, we've had good, strong reaction from a good collection of different types of situations.

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Public Storage (PSA) Q2 FFO Beats on Solid NOI, Revenues Up - August 2, 2018

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Public Storage (PSA) Q2 FFO Beats on Solid NOI, Revenues Up. Following Jun 30, 2018, the company acquired or was under contract to acquire 14 self-storage facilities, spanning 0.8 million net rentable square feet of space, for $95.2 million.Finally, as of Jun 30, 2018, the company had several facilities in development (2.2 million net rentable square feet), with an estimated cost of $315 million, as well as expansion projects (3.9 million net rentable square feet) worth roughly $364 million. The amount will be paid on Sep 27 to shareholders of record as of Sep 12, 2018.Shurgard Europe UpdateShurgard Europe is considering an initial public offering and in July, Public Storage received a cash distribution of $145.4 million from the former. We, now, look forward to the earnings releases of Lamar Advertising Company LAMR, Host Hotels & Resorts, Inc. HST and Outfront Media Inc. OUT, all of which are scheduled to report their quarterly numbers next week.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.Today's Stocks from Zacks' Hottest StrategiesIt's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.And this outperformance has not just been a recent phenomenon.

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Wednesday, August 01


News

Public Storage (PSA) Tops Q2 Earnings Estimates - August 1, 2018

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A quarter ago, it was expected that this self-storage facility real estate investment trust would post earnings of $2.46 per share when it actually produced earnings of $2.48, delivering a surprise of 0.81%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Public Storage was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.

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Public Storage: 2Q Earnings Snapshot

PSA

GLENDALE, Calif. (AP) _ Public Storage (PSA) on Wednesday reported a key measure of profitability in its second quarter. The real estate investment trust, based in Glendale, California, said it had funds from operations of $462.5 million, or $2.65 per share, in the period. Funds from operations is a closely watched measure in the REIT industry. The company's shares have increased 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5 percent.

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Public Storage Reports Results for the Three and Six Months Ended June 30, 2018

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The Same Store pool decreased from 2,052 facilities at March 31, 2018 to 2,048 facilities at June 30, 2018. These measures take into consideration promotional discounts, which reduce rental income. The remaining $445 million of development costs for these projects is expected to be incurred primarily in the next 18 months. As previously reported, Shurgard Europe is considering an initial public offering. Factors and risks that may impact future results and performance include, but are not limited to, those described in Part 1, Item 1A, “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 1, 2018 and in our other filings with the SEC and the following: general risks associated with the ownership and operation of real estate, including changes in demand, risk related to development of self-storage facilities, potential liability for environmental contamination, natural disasters and adverse changes in laws and regulations governing property tax, real estate and zoning; risks associated with downturns in the national and local economies in the markets in which we operate, including risks related to current economic conditions and the economic health of our customers; the impact of competition from new and existing self-storage and commercial facilities and other storage alternatives; difficulties in our ability to successfully evaluate, finance, integrate into our existing operations and manage acquired and developed properties; risks associated with international operations including, but not limited to, unfavorable foreign currency rate fluctuations, changes in tax laws, and local and global economic uncertainty that could adversely affect our earnings and cash flows; risks related to our participation in joint ventures; the impact of the regulatory environment as well as national, state and local laws and regulations including, without limitation, those governing environmental, taxes, our tenant reinsurance business and labor, and risks related to the impact of new laws and regulations; risks of increased tax expense associated either with a possible failure by us to qualify as a REIT, or with challenges to the determination of taxable income for our taxable REIT subsidiaries; changes in federal or state tax laws related to the taxation of REITs and other corporations; security breaches or a failure of our networks, systems or technology could adversely impact our business, customer and employee relationships; risks associated with the self-insurance of certain business risks, including property and casualty insurance, employee health insurance and workers compensation liabilities; difficulties in raising capital at a reasonable cost; delays in the development process; ongoing litigation and other legal and regulatory actions which may divert management’s time and attention, require us to pay damages and expenses or restrict the operation of our business; and economic uncertainty due to the impact of war or terrorism.

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Tuesday, July 31


News

Public Storage (NYSE:PSA) Shares Bought by Perpetual Ltd – Marea Informative

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Cambridge Investment Research Advisors Inc. now owns 7,709 shares of the real estate investment trust’s stock worth $1,611,000 after buying an additional 1,414 shares in the last quarter. Shares of Public Storage opened at $214.50 on Tuesday, according to Marketbeat. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 4.04 and a beta of 0.30. Finally, Morgan Stanley lowered their price target on Public Storage from $199.00 to $193.00 and set an “underweight” rating for the company in a report on Thursday, June 14th.

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Monday, July 30


News

Will Growth Efforts Drive Public Storage (PSA) Q2 Earnings?

PSA

Public Storage PSA is slated to release its quarterly numbers on Aug 1, after the market closes. The company’s Q2 performance is anticipated to display year-over-year improvement in funds from operations (FFO) per share as well as revenues.In the last reported quarter, this self-storage real estate investment trust (REIT) delivered better-than-expected performance in terms of FFO per share, witnessing a positive surprise of 0.81%. Let’s see how things are shaping up for this announcement.Factors to ConsiderPublic Storage is one of the largest owners and operators of storage facilities in the United States. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or at least 3 (Hold) for this to happen.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: The Earnings ESP is -0.67%.Zacks Rank: Public Storage has a Zacks Rank of 3, which increases the predictive power of ESP. However, we also need a positive ESP to be confident of a positive surprise.Stocks That Warrant a LookHere are a few stocks in the REIT sector that you may want to consider as our model shows that these have the right combination of elements to report a positive surprise this quarter:Extra Space Storage Inc. EXR, slated to release April-June quarter results on Jul 31, has an Earnings ESP of +0.80% and a Zacks Rank of 3.

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Friday, July 20


News

Why You Need To Be Cautious About Life Storage, Inc. (LSI), Public Storage (PSA)

PSA

Sell-side analyst recommendations point to a short term price target of $92.78 on the shares of Life Storage, Inc. (LSI). The current price is staying above the SMA lines which signify strength and is generally healthy/positive and may provide the momentum for driving the share price higher. Current price places the company’s stock 9.93% away from its 200-day simple moving average, 1.44%, away from the 50-day average and also -1.67% away from 20-day average. For this year, Life Storage, Inc. (NYSE:LSI) is performing 7.39%. Public Storage (PSA) opened the session with a $219.29 price tag, later ranging from $218.99 to $223.39, the range at which the stock has traded at throughout the day.

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