Public Storage (NYSE:PSA)
Historical Stock Chart
6 Months : From Aug 2019 to Feb 2020
By Maria Armental
Public Storage (PSA) shares fell 6% Wednesday, a day after the real-estate investment trust reported third-quarter results that showed improved profit, but revenue and a key metric for REITs fell short of Wall Street targets.
The Glendale, Calif.-based self-storage company reported a profit of $397.9 million, or $1.93 a share, compared with $378 million, or $1.85 a share, a year earlier.
Revenue rose 3% to $729.3 million, below the $737 million expected by analysts, according to FactSet.
Funds from operations, a key measure used for REITs, rose to $2.76 a share from $2.66, ahead of analysts' projected $2.75 a share, according to FactSet.
Core FFO rose to $2.73 a share from $2.70 a share. Analysts had expected $2.74 a share.
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(END) Dow Jones Newswires
October 30, 2019 12:19 ET (16:19 GMT)
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