Public Storage remains well positioned in key markets as focus turns to growth opportunities.
There was little in no-moat-rated Public Storage’s fourth-quarter results that would alter our long-term view of the company, and we are maintaining our $223 fair value estimate. Amid the slowdown in storage, results for the fourth quarter were similar to what we’ve seen in recent periods, with same-store revenue growth of 2.1% and same-store net operating income growth of 2.0% year over year. Core funds from operations came in at $2.75 for the quarter, a 3.8% increase from 2016. Public Storage ...Public Storage is a real estate investment trust. The company's business activities include: Self-storage Operations, which acquires, develops, owns and operates self-storage facilities that provide storage spaces for lease on a month-to-month basis, for personal and business use; Ancillary Operations, which reinsures policies against losses to goods stored by customers in the company's self-storage facilities and sells merchandise, mainly locks and cardboard boxes, at its self-storage facilities; and Investment in PS Business Parks Inc. (PSB), in which the company has an equity interest in PSB that owns, operates, acquires and develops commercial properties, mainly multi-tenant flex, office, and industrial parks.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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