- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
S&P 500 (NYSE:SPY) component Public Storage (NYSE:PSA) reported its results for the third quarter. Public Storage is a real estate investment trust (REIT) with a focus on the acquisition, development, ownership, and operation of self-storage facilities.
Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now
Public Storage Earnings Cheat Sheet
Results: Funds from operations or FFO for the REIT-equity trust/other rose to $296.6 million ($1.73 per share) vs. $220.2 million ($1.29 per share) in the same quarter a year earlier. This marks a rise of 34.7% from the year-earlier quarter.
Revenue: Rose 4.8% to $412.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Public Storage reported adjusted FFO of $1.76 per share. By that measure, the company beat the mean estimate of $1.68 per share. Analysts were expecting revenue of $410.5 million.
The company topped expectations last quarter after falling short of forecasts in the second quarter with net income of $1.38 versus a mean estimate of net income of $1.53 per share.
Looking Forward: Expectations for the company’s next-quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to $1.77 per share from $1.76. At $6.20 per share, the average estimate for the fiscal year has fallen from $6.31 ninety days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.