In the latest trading session, Public Storage (PSA) closed at $346.26, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the self-storage facility real estate investment trust had lost 6.56% in the past month. In that same time, the Finance sector lost 1.79%, while the S&P 500 lost 7.87%.
Public Storage will be looking to display strength as it nears its next earnings release. On that day, Public Storage is projected to report earnings of $3.42 per share, which would represent year-over-year growth of 16.72%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $913.3 million, up 22.01% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Public Storage. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% higher. Public Storage is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Public Storage is currently trading at a Forward P/E ratio of 24.06. This valuation marks a premium compared to its industry's average Forward P/E of 14.42.
Investors should also note that PSA has a PEG ratio of 2.94 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The REIT and Equity Trust - Other industry currently had an average PEG ratio of 2.52 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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