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Public Storage (PSA) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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Public Storage (PSA - Free Report) reported $1.16 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 6.6%. EPS of $4.20 for the same period compares to $2.06 a year ago.
The reported revenue represents a surprise of +1.93% over the Zacks Consensus Estimate of $1.14 billion. With the consensus EPS estimate being $4.15, the EPS surprise was +1.20%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Public Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Square Foot Occupancy: 92.7% versus the two-analyst average estimate of 92.7%.
Revenues- Self-storage facilities: $1.09 billion versus the six-analyst average estimate of $1.07 billion. The reported number represents a year-over-year change of +6.3%.
Revenues- Ancillary operations: $67.28 million versus $64.03 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
Net Earnings Per Share (Diluted): $2.21 versus $2.76 estimated by seven analysts on average.
Shares of Public Storage have returned -4.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Public Storage (PSA) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
Public Storage (PSA - Free Report) reported $1.16 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 6.6%. EPS of $4.20 for the same period compares to $2.06 a year ago.
The reported revenue represents a surprise of +1.93% over the Zacks Consensus Estimate of $1.14 billion. With the consensus EPS estimate being $4.15, the EPS surprise was +1.20%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Public Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Square Foot Occupancy: 92.7% versus the two-analyst average estimate of 92.7%.
- Revenues- Self-storage facilities: $1.09 billion versus the six-analyst average estimate of $1.07 billion. The reported number represents a year-over-year change of +6.3%.
- Revenues- Ancillary operations: $67.28 million versus $64.03 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +11.8% change.
- Net Earnings Per Share (Diluted): $2.21 versus $2.76 estimated by seven analysts on average.
View all Key Company Metrics for Public Storage here>>>Shares of Public Storage have returned -4.1% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.