Public Storage Stock News

Public Storage's (PSA) Q4 results reflect an increase in the realized annual rent per available square foot and weighted average square foot occupancy. The company gains from expansion moves.

https://www.investing.com/analysis/public-storage-stock-could-move-up-200618578

Public Storage (PSA) stock jumps 4.3% in after-hours trading after the self-storage REIT issued guidance for 2022 core FFO per share of $14.75-$15.65, topping the average analyst

Public Storage Earnings, Revenue Beat in Q4

Public Storage press release (PSA): Q4 FFO of $3.54 beats by $0.09.Revenue of $924.32M (+23.5% Y/Y) beats by $7.64M.Increased Same Store direct net operating income by 12.2%,

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today operating results for the fourth quarter and year ended December 31, 2021. Public Storage achieved significant portfolio growth, industry-leading transformation of the customer experience, and record financial results in 2021, said Joe Russell, President and Chief Executive Officer. Our momentum continues with customers enjoying end-to-end digital experience options, high-growth properties in our non-same store pool

Public Storage (PSA) delivered FFO and revenue surprises of 2.91% and 1.32%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

With the REIT industry offering a real estate structure for several economic activities, there are pockets of strength. This is likely to be reflected in the earnings of PSA, EXR, NSA and PEB.

Public Storage with ticker code (PSA) have now 14 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The target price ranges between 444 and 333 with a mean TP of 386.29. Given that the stocks previous close was at 346.06 this is indicating there is a potential upside of 11.6%. The day 50 moving average is 359.7 and the 200 day MA is 322.97. The company has a market cap of $60,245m. Visit the company website at: https://www.publicstorage.com [stock_market_widget type="chart" template="basic" color="green" assets=PSA" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $67,249m based on the market concensus. Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

Managing one house is hard, but these companies manage tens of thousands. It's all possible through property tech, or proptech.

Public Storage's (PSA) results are likely to reflect gains from high brand value and its solid presence in key cities, driving the occupancy level and rental rate hikes.

Public Storage (NYSE:PSA) is the world's largest owner, operator, and developer of self-storage facilities serving more than one million customers.

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