Ex-Dividend Stocks: HP, Public Storage

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Monday, meaning an investor must purchase the shares Friday to qualify for the next dividend payment: Ameren ( AEE), Hewlett-Packard ( HPQ) and Public Storage ( PSA).

Ameren

The utility company reported on May 4 a first-quarter loss of $403 million, or $1.66 a share, a reversal from year-earlier earnings of $74 million, or 29 cents a share.

"Uncertainty related to merchant generation's outlook continues to cloud what is otherwise an attractive (and improving) regulated rate base growth story, in our view," Wells Fargo analysts wrote in a May 4 report. "No change to our 2012-14E EPS of $2.30, $1.75, and $2.00. Our rating remains Market Perform with a 12-18 month valuation range of $32-33 per share."

Forward Annual Dividend Yield: 5%

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Hewlett-Packard

The PC and printer company reported second-quarter earnings on May 23 of $1.59 billion, or 80 cents a share, down from year-earlier earnings of $2.3 billion, or $1.05 a share.

"Despite HP's solid position in cloud computing and its recently announced cost cuts, we believe most of HP's businesses will be challenged in the near to medium term," Jefferies analysts wrote in a June 1 report. "Specifically we think tablets will hurt PCs (and Windows 8 will not help), smartphones will hurt printers, and European uncertainty will hurt enterprise IT spending. We trim our estimates, cut our target from $30 to $23, and downgrade to a Hold."

Forward Annual Dividend Yield: 2.3%


Public Storage

The real estate investment trust reported first-quarter earnings on May 3 of $205.9 million, or 73 cents a share, down from year-earlier earnings of $206.1 million, or 87 cents a share.

"PSA's U.S. portfolio is showing some signs of earnings growth deceleration," Jefferies analysts wrote in a May 8 report. "Economic headwinds in Europe also continue to dampen near-term outlook for PSA's Shurgard Europe portfolio. We believe this confluence on issues will limit near-term stock performance. We maintain our Hold rating."

Forward Annual Dividend Yield: 3.3%

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-- Written by Alexandra Zendrian

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