|Bid||24.71 x 900|
|Ask||25.70 x 800|
|Day's Range||25.56 - 25.75|
|52 Week Range||22.33 - 26.68|
|Beta (5Y Monthly)||0.13|
|PE Ratio (TTM)||3.03|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Public Storage (NYSE:PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 5.375% Cumulative Preferred Shares, Series V (NYSE:PSAPrV) on July 10, 2020 at $25 per depositary share plus accrued dividends from July 1, 2020 through the date of redemption. The aggregate redemption amount, before payment of accrued dividends, to be paid to all holders of the depositary shares is $495,000,000.
Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"), announced that the Company has priced a public offering of 20,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 4.625% Cumulative Preferred Share of Beneficial Interest, Series L. The offering is expected to result in $500 million of gross proceeds (assuming no exercise of the underwriters’ overallotment option) and to close on or about June 17, 2020, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds to make investments in self-storage facilities and in entities that own self-storage facilities, for the development of self-storage facilities and for general corporate purposes, which may include redemption of, in whole or in part, its 5.375% Cumulative Preferred Shares, Series V, or any other series of its preferred shares.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]
It's hard to believe, but stocks are within spitting distance of new all-time highs. At time of writing, the S&P; 500 is just 1% away from being positive on the year and 6% away from literally the highest point in the index's history. Many discounts in prospective retirement stocks have evaporated completely.Yet the real economy still is in rough shape. Advance estimates showed first-quarter GDP slowing by 4.8%, and early estimates by the Atlanta Fed show Q2 GDP falling by an almost inconceivable 53.8%. These numbers should be taken with a grain of salt, as production will naturally bounce back as America comes out of lockdown. But it's going to be a while before things start to look normal again.High prices at a time when the economy is in freefall might seem odd. It actually gets worse when you look at stock valuations. We won't even bother with the price-to-earnings (P/E) ratio or the forward P/E. With earnings per share so distorted by COVID-19 disruptions, any metric that uses an estimation of corporate profits for the next year will be all but useless, making stocks priced against nonexistent earnings look artificially expensive.But even the cyclically adjusted price-to-earnings ratio (CAPE), based on average inflation-adjusted earnings over the past decade, tells a rather sobering story. At today's CAPE of 30, the S&P; 500 is 78% higher than its long-term average and priced to lose about 1.5% annually over the next eight years, according to research site GuruFocus.Yet as the old saying goes, the stock market is a market of stocks. While the major market averages are priced to disappoint, some bargains remain. And with the Federal Reserve continuing to pump liquidity into the system for the foreseeable future, the general direction will likely be higher.Today, we're going to look at 15 retirement stocks to buy at still-reasonable prices, even in the post-COVID-19 market. Not all are once-in-a-lifetime buys, but investors can rest assured that they're buying good companies at decent prices - exactly the way you want to build a retirement portfolio. SEE ALSO: 20 Best Stocks to Buy Now for the Next Bull Market
Public Storage (PSA) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The real estate sector has, simply put, been a loser in 2020.Real estate investment trusts (REITs), which own and operate various types of properties and facilities, are off nearly 11% versus a 6% decline for the S&P; 500\. But there's a world of difference separating the sector's best REITs and its worst.Much of the pain in real estate has come courtesy of retail-focused companies, many of which have lost more than 50% of their value as investors correctly surmised that stay-at-home orders would minimize shopping trips and curtail customer spending. Office REITs have experienced outsized struggles, too, as shuttered businesses are unable to pay rents, and as large-scale work-from-home strategies have investors rethinking the future of office space.Not every REIT sector has been equally affected, however. Some REITs are riding out the pandemic shutdowns relatively unscathed - and some are even benefiting from the recent sea changes.However, while defensive business models are an important characteristic to have when determining REITs to buy, other qualities should be considered, too. Solid balance sheets are a must. Conservative payouts, which leave room for dividends to be easily covered in the event of a shock, and raised in the future when all is well, are ideal, too.Here are nine of the best REITs to buy not just for their durable businesses, but also their financial strength and dividend coverage. SEE ALSO: 25 Dividend Stocks the Analysts Love the Most
Public Storage (PSA) poised to gain from high brand value and expansion efforts, while adverse impact on demand for coronavirus pandemic, lower pricing, high expenses remain key concerns.
Shareholders might have noticed that Public Storage (NYSE:PSA) filed its first-quarter result this time last week. The...
Public Storage (NYSE:PSA) announced today it intends to release its first quarter 2020 earnings results on Thursday, April 30, 2020. A conference call is scheduled for Friday, May 1, 2020, at 9:00 a.m. (PDT) to discuss these results.
The U.S. is poised to enter a recession amid the growing coronavirus pandemic, but this outlook is favorable for self-storage companies, according to BofA Securities.The Analyst Jeffrey Spector upgraded Life Storage Inc (NYSE: LSI) from Neutral to Buy with a price target lowered from $126 to $117.The analyst also upgraded Public Storage (NYSE: PSA) from Neutral to Buy with a price target lifted from $254 from $267.The Thesis Self-Storage REIT companies offer investors exposure to a "relatively defensive sector" within the broader real estate segment for three reasons, Spector wrote in a note. These include: * Demand for storage space is mostly sticky during recessions and higher during more severe recessions. * Existing users will stay in place so occupancy rates will remain stable and offer cash flow and stability. * Demand for storage will become "more of a necessity" today versus in the past.Life Storage: 'Rent Now' Initiative Life Storage's "Rent Now" initiative lets customers reserve and execute a lease without human interactions, Spector wrote. This move would be well accepted amid current demands for "social distancing" and result in a reduction in payroll expenses at the company level.Life Storage was better positioned to manage marketing expenses compared to its peers in 2019 and this should play out throughout 2020.Public Storage: Liquidity And Minimal Debt Spencer said Public Storage boasts "ample" liquidity along with "minimal" debt, which makes it well-positioned to operate throughout any downturn. Specifically, the company has $400 million in cash on hand with minimal debt obligations in 2020.The company's recent move to withdraw a $1.2 billion offer to acquire Australia-based NSR gives it even more liquidity to seek out future M&A opportunities.LSI and PSA Price Action Shares of Life Storage were trading higher by more than 10% at $77.68, while shares of Public Storage were higher by more than 4% at $167.72.Related Links:El-Erian Says Our Economic Situation Has Reached 'Critical Mass'Plunge In Oil Prices, Coronavirus Sell-Off Signal Recession, Analyst SaysSee more from Benzinga * Tuesday Is 'Great American Takeout' Day * Virgin Galactic Is A Buy After 70% Stock Decline, Morgan Stanley Says In Upgrade * BTIG's Emanuel Says Stocks Risk 1987's 40% Downside Scenario If Senate Doesn't Act(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Will the new coronavirus cause a recession in US in the next 6 months? On February 27th, we put the probability at 75% and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to […]
Remember when 1,000-point moves in the Dow where a big deal?Lately, they've become almost commonplace. The Dow fell by just shy of 1,000 points on March 3 after rallying by more than 1,200 points on March 2. This follows a week in which the Dow closed down by more than 1,000 twice and down 879 another day.That's some monster volatility. Yet despite the market turmoil, a handful of defensive dividend stocks are keeping their heads above water. It's an eclectic group, but you do see some common threads. Many are in basic industries that aren't particularly sensitive to economic growth or virus fears, such as packed foods and grocery stores. Many are low-beta stocks - shares that are less volatile than the broader market. And most pay above-average dividends, which helps to smooth out the ups and downs of the share price swings.These survivors also are a little off the beaten path and don't have much representation on the major stock indexes. That matters because when investors dump index funds, the mega-cap stocks that dominate the Dow, S&P; 500 and Nasdaq often get hit hard."Aggressive selling in the indexes can translate into aggressive selling in historically strong stocks such as Apple (AAPL), Microsoft (MSFT) and the other trillion-dollar names," says Mario Randholm, portfolio manager at alternative investments firm Randholm & Co. "It's hard to picture a scenario in which all these dominant names will continue to outperform during a broad-market selloff."Today, we're going to take a look at 11 low-beta, defensive dividend stocks that have been keeping their heads above water. As of the time of this writing, all were not only outperforming the market since the correction began Feb. 19, but most were clinging to at least modest gains. Those gains might prove to be tenuous if the market takes another leg down. But at the very least, these stocks seem better-positioned to sustain less damage than most of their peers. SEE ALSO: 20 Dividend Stocks to Fund 20 Years of Retirement
Warburg Pincus had pulled out of the contest, National Storage said on Friday, a day after China's Gaw Capital Partners' also withdrew. Both private equity firms had offered A$2.20 for the Brisbane-based firm. Public Storage offered A$2.40 a share.
U.S.-based Public Storage emerged on Friday as the likely buyer of Australia's largest self-storage operator National Storage REIT with its current A$1.89 billion ($1.25 billion) offer, after two rivals dropped out of the race. Warburg Pincus had pulled out of the contest, National Storage said on Friday, a day after China's Gaw Capital Partners' also withdrew. Both private equity firms had offered A$2.20 for the Brisbane-based firm.
Investors in Public Storage (NYSE:PSA) had a good week, as its shares rose 2.6% to close at US$228 following the...
There's no doubt that investing in the stock market is a truly brilliant way to build wealth. But not every stock you...