Public Storage (NYSE:PSA)
Historical Stock Chart
6 Months : From Apr 2019 to Oct 2019
By Stephen Nakrosis
Public Storage (PSA) on Wednesday reported first-quarter earnings that beat analysts' estimates.
The company, a real estate investment trust that primarily operates self-storage facilities, posted a net income of $366.5 million, or $1.73 a share. Analysts polled by FactSet expected a profit of $308 million, or $1.71 a share.
Public Storage reported funds from operation of $2.52 a share and core FFO of $2.53 a share. Analysts targeted reported FFO of $2.51 a share and core FFO of $2.52, per FactSet.
Revenue was $689 million, Public Storage said, falling short of the $692 million analysts were expecting.
Part of the increase in net income came from a $7.4 million increase in self-storage net operating income and a $19.6 million increase from the impact of foreign currency exchange gains and losses associated with euro denominated debt, the company said.
--Write to Stephen Nakrosis at email@example.com
(END) Dow Jones Newswires
May 01, 2019 17:44 ET (21:44 GMT)
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