Public Storage, a Real Estate Investment Trust (REIT) which specialises in self-storage units, has experienced various significant financial events.
Zacks Research reduced predicted earnings estimates meaning the company may be at risk of underperforming, impacting their
stock value. Several institutional investors are adjusting their stakes in the company. For example,
Jump Financial LLC acquired 4,266 shares, while
Barclays reduced their price target for the company to $327.00. This shows that the market is readjusting its expectations of Public Storage's stock performance. Despite the revenue and earnings per share (EPS) misses for Q1 2024, Q2's estimated Funds From Operation (FFO) and revenue surpassed previously set estimates. Key individuals within the company, such as Director Kristy Pipes, have been buying company stocks, demonstrating a strong belief in the company's prospects from within. Despite
Q1 FFO missing estimates and a decline in occupancy rates, revenue gains have placed the company in line with EPS projections. Furthermore, Public Storage has recently completed a
$2.2B buyout of Simply Self Storage, offering evidence of an aggressive growth strategy. Internal growth has been recognised by Goldman Sachs, who raised their rating based on the optimistic outlook.
Public Storage PSA News Analytics from Fri, 07 Jul 2023 07:00:00 GMT to Thu, 23 May 2024 19:01:44 GMT -
Rating 6
- Innovation 3
- Information 8
- Rumor -4
