Public Storage Q3 Profit Down

(RTTNews) - Public Storage (PSA) Monday reported third-quarter net income of $563.2 million or $3.20 per share, compared to $2.7 billion or $15.38 per share last year.

For the three months ended September 30, 2023, FFO was $4.58 per share as compared to $4.66 for the same period in 2022, representing a decrease of 1.7%.

Core FFO per share for the quarter was $4.33, compared to $4.13 per share last year.

Revenues for the quarter were $869.7 million, compared to $848.6 million last year.

Analysts polled by Thomson Reuters expected earnings of $2.82 per share on revenues of $1.14 billion.