PSA - Public Storage
Chart Events
Commodity Channel Index
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 200.64 |
| Open | 205.99 |
| Bid | 205.00 x 1800 |
| Ask | 212.00 x 1000 |
| Day's Range | 203.43 - 207.66 |
| 52 Week Range | 155.37 - 266.76 |
| Volume | 982,740 |
| Avg. Volume | 1,289,742 |
| Market Cap | 36.072B |
| Beta (5Y Monthly) | 0.14 |
| PE Ratio (TTM) | 28.08 |
| EPS (TTM) | 7.35 |
| Earnings Date | Jul 28, 2020 - Aug 03, 2020 |
| Forward Dividend & Yield | 8.00 (3.99%) |
| Ex-Dividend Date | Jun 12, 2020 |
| 1y Target Est | 193.80 |
Fair Value
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Public Storage -- Moody's announces completion of a periodic review of ratings of Public Storage
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Public Storage and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
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Edited Transcript of PSA earnings conference call or presentation 1-May-20 4:00pm GMT
Q1 2020 Public Storage Earnings Call
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The S&P 500 has gained nearly 11% so far this month, and this rally is truly what seems to be – a bullish rally in the midst of a larger bear market. And this, of course, brings us to the main issue that investors must answer now: where to put their money. Markets bottomed on March 23, almost four weeks ago, and that trough brought many stocks down to an attractive point of entry. The current rally has not pushed them back high enough to erase that; the current price plateau offers latecomers a chance to buy into the rally while prices are still attractively low.So how to recognize the most compelling buying opportunities?One way is to follow the insiders. The word may have an unsavory flavor, especially after recent allegations that several Senators made ‘inside trades’ just as the coronavirus lockdowns started. But in reality, insiders are just corporate officers and Board members, the men and women responsible to shareholders for running America’s publicly traded corporations – and who also, by virtue of their positions, have access to earlier and better knowledge of the factors that will move stock values. They do trade on that knowledge – and to help keep the playing field level, they are required to make their inside stock moves public. Following their purchases is a viable strategy for finding potentially profitable stock plays.TipRanks has the tools to help you do just that. The Insiders’ Hot Stocks page shows which stocks top insiders are most active on, for both purchases and sales. You can sort insider trades by a variety of filters, including trading strategy. We’ve done some of the legwork for you, and pulled up three stocks with recent informative buy-side transactions. Here are the results.Fortress Transportation and Infrastructure (FTAI)The first company on our list today, Fortress Transportation, resembles REITs. Fortress buys, owns, and manages properties in the transportation industry, especially in the infrastructure segment. Where it deviates from the usual REIT format is in its other assets: Fortress also owns and operates the actual equipment in the transport niche, equipment like shipping containers, offshore drilling ships, and commercial jet aircraft. That last, commercial aircraft, makes up over 61% of the company’s asset portfolio. Fortress generates its profits through leases on its owned assets.On the insider front, three informative purchases have swung sentiment on this stock strongly positive. Two were made by members of the Board of Directors; the smaller, by Kenneth Nicholson, for $215,700, and the larger, by Paul Goodwin, for $435,880. The truly huge purchase, however, was made by a 10% owner in the company – an institutional investor, the Washington State Investment Board, which laid down $19.9 million for a 2.353 million shares. The magnitude of these purchases are clear indicators of confidence in the stock.As last year ended, FTAI finished with strong quarterly earnings. The 12 cents reported were 71% above the forecast, it was the third consecutive quarter to beat the forecast. Better yet, for investors, Fortress reported that, as of the end of 2019, 80% of its aviation equipment assets were leased out – and that the average remaining lease term was 29 months. This puts the company in a strong position to weather the coronavirus storm, as it guarantees income from half of the company’s assets for another two years.In addition to a solid fiscal footing, FTAI offers a 33-cent quarterly dividend. At $1.32, the annualized payment gives the stock a yield of 14.4%, more than enough to attract investors now that the Fed has cut rates back to near-zero, and made sweeter by a 5-year reliable payment history.Stephens analyst Justin Long is also confident in FTAI. He notes the stock’s high dividend, as well as its advantageous debt position, despite a heavy recent sell-off. At the bottom line, he writes, “We feel like the damage has been done with a draconian scenario being priced-in. We would also note FTAI is relatively well positioned in the aviation leasing industry with total debt to cap under 50% and no debt maturities until 2022... 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Once received, customers can choose to keep or return some or all of the clothes choices. It’s a unique take on eCommerce, combining data science, machine learning, and a personal touch to predict what customers will enjoy most.Looking ahead, the company is expected to post a 15-cent per share loss in fiscal Q3, for the period in this month – and covering, in large part, the economic shutdown due to the COVID-19 epidemic.But despite the tough path forward, two company directors have made multi-million dollar purchases in recent days. William Gurley spent $15.8 million on a 1 million share purchase this past Monday; Steven Spurlock spent $16.6 million on 1.05 million shares the same day. The two buys swung the sentiment need sharply into positive territory, and also show that both shareholders are willing to take advantage of current low prices to expand their holdings.Youssef Squali, 5-star analyst with SunTrust Robinson, explains why this may be a good idea. Acknowledging that the company has sharply pulled back its Q3 and full year guidance due to the commercial disruptions of COVID-19, Squali also says, “While we recognize that demand trends are likely to worsen in 2Q and possibly 3Q before they start getting better in 4Q (our estimate), we believe that shareholders with a longer-term horizon will be rewarded given the company's strong competitive positioning and sustainable business model…”For that long term, Squali sees a fit to place $27 price target, implying 80% growth for the stock. In line with this, he maintains his Buy rating. (To watch Squali’s track record, click here)The Moderate Buy analyst consensus view on this stock is backed by a near-even split of 8 Buys and 6 Holds. The $19.31 average price target indicates a 23% premium from the $15.70 current trading price of the shares. (See Stitch Fix stock analysis at TipRanks)Public Storage (PSA)Public Storage is well known for its chain of self-storage facilities across the US. In organization, PSA is a real estate investment trust, owning the properties and deriving income from leases and management fees.In recent days, three company Board members – Avedick Baruyr, Wayne Hughes, and Gary Pruitt – each purchased a block of 5,000 shares, for the price of $471,250. The purchases show clear confidence in the stock. These purchases bring the insider buys of the past three months to well over $1.5 million dollars.Public Storage came into 2020 with rising earnings, although results were just below the forecasts. Finishing calendar year 2019, PSA showed $2.84 in Q4 funds from operations, along with $598 million in total quarterly revenues. For the full year, FFO was $10.75, up 1.8% yoy, and revenue came in at $2.4 billion, up 1.4% from 2018. The numbers give the company a firm foundation, which it found it needed to face the dislocations in today’s economic landscape. 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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.
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Edited Transcript of PSA earnings conference call or presentation 26-Feb-20 5:00pm GMT
Q4 2019 Public Storage Earnings Call
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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
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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.
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