Public Storage First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Public Storage (NYSE:PSA) will unveil its latest earnings on Thursday, May 3, 2012. Public Storage is a real estate investment trust (REIT) with a focus on the acquisition, development, ownership, and operation of self-storage facilities.

Public Storage Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of $1.42 per share, a rise of 10.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $1.45. Between one and three months ago, the average estimate moved down. It also has dropped from $1.43 during the last month. Analysts are projecting profit to rise by 8.3% versus last year to $6.42.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the fourth quarter of the last fiscal year, it reported profit of $1.66 per share against a mean estimate of net income of $1.59 per share. In the third quarter of the last fiscal year, it missed forecasts by 5 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 6.6% in revenue from the year-earlier quarter to $410.5 million.

Analyst Ratings: Optimism surrounds Public Storage, as six analysts rate it as a buy, four rate it as a sell, and nine rate it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit rose 19.9% to $220.2 million (96 cents a share) from $183.7 million (71 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 7.5% to $446.6 million from $415.3 million.

Key Stats:

The company enters this earnings announcement with steady profits recently. Net income has risen year-over-year average of 32.8% for the last four quarters.

Stock Price Performance: Between March 1, 2012 and April 27, 2012, the stock price had risen $10.89 (8.2%), from $133.02 to $143.91. It saw one of its worst periods between April 2, 2012 and April 10, 2012 when shares fell for six straight days, dropping 3.2% (-$4.49) over that span. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 8, 2011, when shares rose for 11 straight days, increasing 9.8% (+$10.39) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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