In the latest trading session, Public Storage (
PSA Quick Quote PSA - Free Report) closed at $394.20, marking a -1.2% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.82%. Meanwhile, the Dow lost 2.38%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Prior to today's trading, shares of the self-storage facility real estate investment trust had gained 4.08% over the past month. This has outpaced the Finance sector's loss of 6.21% and the S&P 500's loss of 5.33% in that time.
Investors will be hoping for strength from Public Storage as it approaches its next earnings release, which is expected to be May 3, 2022. In that report, analysts expect Public Storage to post earnings of $3.59 per share. This would mark year-over-year growth of 27.3%. Our most recent consensus estimate is calling for quarterly revenue of $965.73 million, up 25.87% from the year-ago period.
PSA's full-year Zacks Consensus Estimates are calling for earnings of $15.51 per share and revenue of $4.05 billion. These results would represent year-over-year changes of +19.95% and +18.51%, respectively.
Investors might also notice recent changes to analyst estimates for Public Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.6% higher within the past month. Public Storage is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Public Storage is holding a Forward P/E ratio of 25.72. Its industry sports an average Forward P/E of 15.47, so we one might conclude that Public Storage is trading at a premium comparatively.
We can also see that PSA currently has a PEG ratio of 4.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.87 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.