Key Details
Price
$302.88Last Dividend
$3.00TTM Dividend Yield
3.96%PE Ratio
31.45Annual ROE
21.19%Beta
0.44Events Calendar
Next earnings date:
Feb 24, 2025Recent quarterly earnings:
Oct 30, 2024Recent annual earnings:
Feb 20, 2024Next ex-dividend date:
N/ARecent ex-dividend date:
Dec 13, 2024Next split:
N/ARecent split:
N/AAnalyst ratings
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Public Storage (NYSE:PSA) has announced that it will share its fourth quarter 2024 earnings results after the market closes on February 24, 2025. A conference call to discuss these results will take place on February 25, 2025, at 9:00 a.m. (PT). For those who want to join the call, the domestic dial-in number is (877) 407-9039, and the international number is (201) 689-8470.
From 2020 to 2022, Public Storage (PSA -2.19%), a top self-storage real estate investment trust (REIT), experienced a significant increase in its share price, more than doubling due to a boost from the pandemic. However, since reaching its peak, the stock has fallen by about 30%.
PSA benefits from strong brand value, a presence in important cities, and a solid financial situation. However, they are facing challenges due to decreasing demand and ongoing high interest rates.
Public Storage is a successful company with a solid track record, but it is struggling to keep up its previous growth because of a slow housing market. The self-storage sector has few barriers to entry and a lot of competition, which makes it hard for Public Storage to stay ahead. Even with investments in technology, issues like low tenant retention and more move-in offers are making it tough for the company to achieve long-term profits and growth.
Public Storage's results for the third quarter show a decrease in the annual rent earned per occupied square foot and a drop in occupancy rates.
While the revenue and earnings per share (EPS) for Public Storage (PSA) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.
Public Storage (PSA) reported quarterly funds from operations (FFO) of $4.20 per share, which is lower than the Zacks Consensus Estimate of $4.25 per share. This is also a decrease from last year's FFO of $4.33 per share.
In addition to Wall Street's predictions for Public Storage's (PSA) earnings, take a look at forecasts for some important metrics to better understand how the company performed in the quarter that ended in September 2024.
PSA's results for the third quarter are expected to show benefits from strong brand value and a good presence in important cities. However, there are still worries about low demand and high interest costs.
GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA; the “Company”) has announced that Chris Sambar is now the Chief Operating Officer. He has a wealth of leadership experience, having most recently been the President of AT&T Communications, where he managed around 27,000 employees in network operations. Before this, he held several leadership roles in sales, operations, and corporate strategy at AT&T.
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