Public Storage Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Public Storage (NYSE:PSA) will unveil its latest earnings on Thursday, August 2, 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 estimate of analysts is for profit of $1.53 per share, a rise of 10.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.57. Between one and three months ago, the average estimate moved down. It also has dropped from $1.55 during the last month. Analysts are projecting profit to rise by 6.6% versus last year to $6.32.

Past Earnings Performance: Last quarter, the company beat estimates by 2 cents, coming in at net income of $1.44 per share against an estimate of profit of. The company also topped expectations in the fourth quarter of the last fiscal year.

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Stock Price Performance: Between May 31, 2012 and July 27, 2012, the stock price had risen $15.90 (11.9%), from $133.47 to $149.37. It saw one of its worst periods between July 17, 2012 and July 25, 2012 when shares fell for seven straight days, dropping 2.7% (-$4) over that span. The stock price saw one of its best stretches over the last year between June 25, 2012 and July 2, 2012, when shares rose for six straight days, increasing 5.4% (+$7.39) over that span.

Wall St. Revenue Expectations: On average, analysts predict $418.3 million in revenue this quarter, a rise of 5.8% from the year-ago quarter. Analysts are forecasting total revenue of $1.7 billion for the year, a rise of 5.6% from last year’s revenue of $1.61 billion.

Analyst Ratings: There are mostly holds on the stock with 10 of 19 analysts surveyed giving that rating.

Key Stats:

There has enjoyed solid performance recently heading into this earnings announcement with profit rising by a year-over-year average of 16.2% for the last four quarters.

On the top line, the company is looking to rebound after a revenue drop last quarter. Revenue rose 7.5% in the the fourth quarter of the last fiscal year after dropping in the first quarter.

A Look Back: In the first quarter, profit fell 0.1% to $205.9 million (73 cents a share) from $206.1 million (87 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 0.2% to $463.9 million from $465 million.

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

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