Here's What Key Metrics Tell Us About Public Storage (PSA) Q3 Earnings
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Public Storage (PSA) reported $1.19 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 3.8%. EPS of $4.20 for the same period compares to $3.20 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.18 billion, representing a surprise of +0.39%. The company delivered an EPS surprise of -1.18%, with the consensus EPS estimate being $4.25.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
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Square Foot Occupancy: 92.7% versus 92.7% estimated by three analysts on average.
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Revenues- Self-storage facilities: $1.11 billion versus $1.11 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.9% change.
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Revenues- Ancillary operations: $77.64 million compared to the $72.42 million average estimate based on four analysts. The reported number represents a change of +19.3% year over year.
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Net Earnings Per Share (Diluted): $2.16 compared to the $2.61 average estimate based on six analysts.
View all Key Company Metrics for Public Storage here>>>
Shares of Public Storage have returned -8% over the past month versus the Zacks S&P 500 composite's +1.8% 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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