Wall Street analysts expect Public Storage (PSA) to post quarterly earnings of $4.07 per share in its upcoming report, which indicates a year-over-year increase of 1%. Revenues are expected to be $1.17 billion, up 1.5% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Bearing this in mind, let's now explore the average estimates of specific Public Storage metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenues- Self-storage facilities' will likely reach $1.09 billion. The estimate suggests a change of +0.6% year over year.
Analysts expect 'Revenues- Ancillary operations' to come in at $78.36 million. The estimate suggests a change of +10.1% year over year.
The collective assessment of analysts points to an estimated 'Square Foot Occupancy' of 91.0%. The estimate is in contrast to the year-ago figure of 91.9%.
It is projected by analysts that the 'Rent per Occupied Square Foot' will reach $22.61 million. Compared to the present estimate, the company reported $22.59 million in the same quarter last year.
Analysts predict that the 'Depreciation and amortization' will reach $283.00 million. Compared to the current estimate, the company reported $285.20 million in the same quarter of the previous year.
View all Key Company Metrics for Public Storage here>>>
Shares of Public Storage have demonstrated returns of +0.6% over the past month compared to the Zacks S&P 500 composite's -4.8% change. With a Zacks Rank #3 (Hold), PSA is expected to mirror the overall market performance in the near future. 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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