Public Storage (NYSE:PSA – Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Tuesday, December 15th will be paid a dividend of $3.00 per share by the real estate investment trust on Friday, January 8th. This represents a $12.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, December 15th.
Public Storage has increased its dividend payment by an average of 0.1% annually over the last three years. Public Storage has a dividend payout ratio of 113.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Public Storage to earn $17.43 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 68.8%.
Public Storage Stock Performance
Shares of Public Storage stock opened at $339.00 on Wednesday. The company has a 50 day moving average of $299.22 and a 200-day moving average of $303.28. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. Public Storage has a 1-year low of $256.54 and a 1-year high of $336.53. The company has a market cap of $63.34 billion, a PE ratio of 35.75, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89.
Public Storage (NYSE:PSA – Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. Public Storage’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $4.31 EPS. As a group, equities research analysts forecast that Public Storage will post 16.97 earnings per share for the current fiscal year.
About Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.
Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.
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