Public Storage (NYSE:PSA) real estate investment trust, is expected to report third quarter earnings results, after market close, on Wednesday 4th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 1.69 per share.
Looking ahead, the full year income are expected at $ 6.97 per share on the revenues of $ 2866.74 million.
Previous Quarter Performance
Public Storage revealed income for the second quarter of $ 2.46 per share, from the revenue of $ 664.54 million. The consensus estimates are $ 707.82 million in revenue The top line results fell short of analysts by $ 43.28 million or 6.11 percent.
Stock Performance
Shares of Public Storage traded up $ 2.67 or 1.15 percent on Tuesday, reaching $ 235.48 with volume of 674.00 thousand shares. Public Storage has traded high as $ 236.30 and has cracked $ 232.18 on the downward trend
According to the previous trading day, closing price of $ 235.48, representing a 49.84 % increase from the 52 week low of $ 155.37 and a 2.75 % decrease over the 52 week high of $ 239.40.
The company has a market capital of $ 41.16 billion and is part of the Real Estate sector and REIT – Industrial industry.
Recent Analyst recommendations
- On 6th October 2020, downgraded by Raymond James to Underperform from Market Perform rating.
- On 21st September 2020, upgraded by Morgan Stanley to Equal-Weight from Underweight rating.
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 March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
