Wall Street analysts expect Public Storage (PSA) to post quarterly earnings of $4.21 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $1.21 billion, up 2.7% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Public Storage metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenues- Ancillary operations' will likely reach $84.12 million. The estimate points to a change of +8.8% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Self-storage facilities' reaching $1.13 billion. The estimate indicates a year-over-year change of +2.3%.
The average prediction of analysts places 'Square foot occupancy' at 92.1%. The estimate is in contrast to the year-ago figure of 91.8%.
The collective assessment of analysts points to an estimated 'Annual contract rent per occupied square foot' of $22.50 million. Compared to the present estimate, the company reported $22.89 million in the same quarter last year.
Based on the collective assessment of analysts, 'Net Earnings Per Share (Diluted)' should arrive at $2.52 . The estimate compares to the year-ago value of $3.21 .
It is projected by analysts that the 'Depreciation and amortization' will reach $290.03 million.
View all Key Company Metrics for Public Storage here>>>
Over the past month, Public Storage shares have recorded returns of +3.2% versus the Zacks S&P 500 composite's -0.2% change. Based on its Zacks Rank #4 (Sell), PSA will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Public Storage (PSA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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