Public Storage Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Public Storage (NYSE:PSA) will unveil its latest earnings on Thursday, November 3, 2011. 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 $1.44 per share, a decline of 14.8% 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 $1.47. Between one and three months ago, the average estimate moved down. It also has dropped from $1.45 during the last month. Analysts are projecting profit to rise by 23.9% versus last year to $5.85.

Last quarter, the company came in at net income of $1.39 per share against a mean estimate of profit of $1.38 per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by 3 cents.

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

Wall St. Revenue Expectations: Analysts are projecting a rise of 4% in revenue from the year-earlier quarter to $405.1 million.

Analyst Ratings: Analysts are bullish on Public Storage as seven analysts rate it as a buy, three rate it as a sell and nine rate it as a hold.

A Look Back: In the second quarter, profit rose 65.1% to $206.4 million (77 cents a share) from $125 million (36 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 24.5% to $458 million from $367.9 million.

Key Stats:

The company has seen net income rise in three straight quarters. Net income rose 66.3% in the first quarter and 1.4% in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 24.5% in the first quarter from the year earlier, climbed 2% in the fourth quarter of the last fiscal year from the year-ago quarter and 2.9% in the third quarter of the last fiscal year.

Competitors to Watch: Extra Space Storage, Inc. (NYSE:EXR), U-Store-It Trust (NYSE:YSI), Sovran Self Storage, Inc. (NYSE:SSS), PS Business Parks, Inc. (NYSE:PSB).

Stock Price Performance: During August 4, 2011 to October 28, 2011, the stock price had risen $21.57 (19.6%) from $109.95 to $131.52. It saw one of its worst periods between April 4, 2011 and April 8, 2011 when shares fell for five-straight days, falling 2.9% (-$3.18) 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, rising 9.8% (+$10.55) over that span. Shares are up $32.47 (+32.8%) year to date.

(Source: Xignite Financials)

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

 

More from The Cheat Sheet