Public Storage Q2 FFO Rises

(RTTNews) - Public Storage (PSA), a REIT engaged in the self storage business, on Wednesday reported second-quarter funds from operations of $372.0 million or $2.15 per share, up from $343.8 million or $1.99 per share last year.

Net income for the quarter rose to $263.9 million or $1.52 per share from $218.4 million or $1.26 per share last year.

Revenues for the quarter rose to $592.6 million from $538.0 million last year. Self storage facilities revenues rose to $551.0 million from $500.8 million last year.

Analysts polled by Thomson Reuters estimated FFO of $2.14 per share on revenues of $544.69 million for the quarter. Analysts' estimates typically exclude special items.