Public Storage Net Income Rises by 26%
August 01 2018 - 05:54PM
Dow Jones News
By Waverly Colville
Public Storage (PSA)'s net income rose by 26% compared to last
year's quarter, as revenue increased 3.2%, the company reported
Wednesday.
The storage company' net income was $348.3 million, or $2 a
share, up from $276.7 million, or $1.59 a share, a year earlier.
The company's funds from operations, which adjusted for items like
depreciation and gains on sale, was $2.65 a share, beating the
$2.61 expected by analysts polled by FactSet.
Revenue rose to $685.5 million from $664.3 last year.
Shares fell 0.7% during post-market trading Wednesday.
Write to Waverly Colville at waverly.colville@wsj.com
(END) Dow Jones Newswires
August 01, 2018 17:39 ET (21:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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