Public Storage recently repurchased $200 million of its stock. The buyback reflected the REIT's confidence in its growth prospects.

The next cycle for public REITs could be more similar to those of the 1990s and early 2000s than one of the past 14 years. In prior cycles, public REITs enjoyed a cost of capital that allowed for significant external growth, boosting cash flow and dividends per share. Many companies spent the past cycle shoring up their balance sheets to record low leverage and maintaining a low dividend payout to enhance flexibility.

While growth-focused public companies tend to attract the most attention on Wall Street, safe stocks also present a viable pathway to long-term success. Yes, these ideas might be boring – no, they are boring.

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today that on August 1, 2024, our Board of Trustees declared a regular quarterly common dividend of $3.00 per common share. The Board also declared dividends with respect to our various series of preferred shares. All the dividends are payable on September 30, 2024, to shareholders of record as of September 13, 2024. About Public Storage Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

Public Storage (NYSE:PSA ) Q2 2024 Earnings Conference Call July 31, 2024 12:00 PM ET Company Participants Ryan Burke - VP, IR and Strategic Partnerships Joe Russell - President and CEO Tom Boyle - CFO Conference Call Participants Steve Sakwa - Evercore ISI Juan Sanabria - BMO Capital Markets Nick Yulico - Scotiabank Jeff Spector - Bank of America Ronald Kamdem - Morgan Stanley Michael Goldsmith - UBS Nick Joseph - Citi Keegan Carl - Wolfe Research Todd Thomas - KeyBanc Capital Markets Ki Bin Kim - Truist Securities Eric Luebchow - Wells Fargo Jonathan Hughes - Raymond James Mike Mueller - JPMorgan Spenser Allaway - Green Street Advisors Operator Greetings and welcome to Public Storage Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Public Storage's (PSA) Q2 results reflect lower realized annual rent per occupied square foot and a decline in occupancy.

While the top- and bottom-line numbers for Public Storage (PSA) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Public Storage (PSA) came out with quarterly funds from operations (FFO) of $4.23 per share, beating the Zacks Consensus Estimate of $4.20 per share. This compares to FFO of $4.28 per share a year ago.

Public Storage's (PSA) Q2 results are likely to reflect gains from high brand value and solid presence in key cities, though softening in demand and high interest expenses remain concerns.

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Public Storage (PSA), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.

The concept of safe stocks arguably couldn't be timelier. Recently, the technology sector encountered significant turmoil, with many experts questioning the sustained success of artificial intelligence and related innovations.