Stock Monitor: Jernigan Capital Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 11, 2018 / If you want access to our free earnings report on Public Storage (NYSE: PSA), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PSA. The Company reported its financial results on April 25, 2018, for the first quarter of the fiscal year ended March 31, 2018. The Company surpassed analysts' consensus estimates for revenues, as well as funds from operations (FFO) in Q1 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Jernigan Capital, Inc. (NYSE: JCAP), which also belongs to the Financial sector as the Company Public Storage. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Public Storage most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For Q1 FY18, Public Storage's total revenues reached $669.92 million, reflecting an increase of 3.78% from $645.55 million in Q1 FY17. The Company's revenue numbers surpassed analysts' consensus estimates of $668.90 million. For the quarter under review, Public Storage's self-storage facilities revenues increased 3.91% to $631.54 million, while its ancillary operations' revenues advanced 1.64% to $38.39 million on a y-o-y basis.

During Q1 FY18, Public Storage incurred total expenses of $342.33 million, 7.36% higher than $318.86 million in Q1 FY17. The Company's self-storage cost of operations jumped 5.94% to $182.19 million on a y-o-y basis, while its ancillary cost of operations fell 2.60% to $10.64 million in Q1 FY18. Public Storage's operating income jumped 0.28% to $327.60 million in Q1 FY18 from $326.69 million in Q1 FY17. The Company had a self-storage net operating income of $449.35 million in the reported quarter, up 3.11% from $435.80 million in the previous year's same quarter.

For the quarter ended March 31, 2018, Public Storage's net income attributable to common stockholders was $287.82 million, or $1.65 per share, up 2.38% from $281.13 million, or $1.62 per share, in the quarter ended March 31, 2017. This growth in net income was led by an increase in self-storage net operating income, gain from PS Business Parks, and a reduction in income allocated to preferred shareholders.

Public Storage's FFO attributable to common stockholders was $412.30 million in Q1 FY18, 1.38% higher than $406.70 million in Q1 FY17. The Company's FFO per share also increased 1.28% to $2.37 in the reported quarter from $2.34 in the previous year's comparable quarter. Public Storage's reported FFO included a foreign currency exchange loss, and accelerated expenses of executive officer share-based awards due to their upcoming retirement. Public Storage's core FFO per share was $2.48 in the quarter under review, an increase of 4.64% from $2.37 in Q1 FY17. The Company's core FFO per share exceeded analysts' consensus estimates of $2.46. Besides, Public Storage had funds available for distribution (FAD) of $405.69 million in Q1 FY18, 6.22% higher than $381.93 million in Q1 FY17.

Segment Details

During Q1 FY18, Public Storage's same store facilities' net revenues were $549.90 million, up 2.13% on a y-o-y basis. The Company's same store net operating income was $395.85 million in Q1 FY18, an increase of 1.67% from $389.34 million in Q1 FY17. Higher realized annual rent per occupied square foot supported the Company's same-store performance in the reported quarter.

Public Storage's non-same store facilities' revenues were $81.63 million in Q1 FY18, 17.73% higher than the prior year's corresponding quarter. The Company's non-same store net operating income was $53.50 million in Q1 FY18, up 15.14% from $46.46 million in Q1 FY17.

Cash Matters

Public Storage had cash and equivalents of $363.03 million at the end of Q1 FY18 compared to $433.38 million at the end of Q4 FY17.

Dividend

On April 25, 2018, Public Storage's Board of Trustees declared a regular common quarterly dividend of $2.00 per common share, payable on June 28, 2018, to shareholders of record as of June 13, 2018.

Stock Performance Snapshot

May 10, 2018 - At Thursday's closing bell, Public Storage's stock was marginally up 0.15%, ending the trading session at $211.85.

Volume traded for the day: 647.52 thousand shares.

Stock performance in the last month ? up 6.63%; previous three-month period ? up 17.37%; past twelve-month period ? up 1.40%; and year-to-date ? up 1.36%

After yesterday's close, Public Storage's market cap was at $36.40 billion.

Price to Earnings (P/E) ratio was at 31.32.

The stock has a dividend yield of 3.78%.

The stock is part of the Financial sector, categorized under the REIT - Industrial industry. This sector was up 0.8% at the end of the session.

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