Public Storage (PSA) Releases Earnings Results, Reports EPS of $2.40 EPS

Public Storage (PSA) reported quarterly earnings results on Wednesday, Jul-27-2016. The company reported $2.40 EPS for the quarter. Analysts had a consensus estimate of $2.40. The company posted revenue of $594.39 million in the period, compared to analysts expectations of $594.83 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS.

Many Wall Street Analysts have commented on Public Storage. Public Storage was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Jul 15, 2016. Public Storage was Initiated by FBR Capital to “Mkt Perform” on Jun 23, 2016. Company shares were Reiterated by RBC Capital Mkts on May 11, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 243 from a previous price target of $235 .

Public Storage closed down -9.56 points or -3.85% at $238.62 with 16,42,925 shares getting traded on Thursday. Post opening the session at $244.75, the shares hit an intraday low of $236.3 and an intraday high of $244.75 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Mar 17, 2016, Candace N. Krol (CHRO & SVP) sold 3,000 shares at $263.50 per share price. According to the SEC, on Mar 4, 2016, David F Doll (SENIOR VICE PRESIDENT) sold 20,000 shares at $252.25 per share price. On Dec 16, 2015, John Reyes (SENIOR VICE PRESIDENT / CFO) sold 25,000 shares at $248.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage European Self-Storage and Commercial. The Trust acquires develops owns and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.

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