PS Business Parks (PSB) Reports In-Line Q1 FFO
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PS Business Parks, Inc. Reports Results for the First Quarter Ended March 31, 2015
April 28, 2015 5:00 PM EDTGLENDALE, Calif.--(BUSINESS WIRE)-- PS Business Parks, Inc. (NYSE: PSB) reported operating results for the first quarter ended March 31, 2015.
Funds from operations (FFO) were $39.0Â million, or $1.13 per share for the three months ended March 31, 2015, a decrease of $2.1 million from the three months ended March 31, 2014 of $41.1 million, or $1.20 per share. The decrease in FFO was primarily the result of a $3.5 million decrease in net operating income (NOI) resulting from asset dispositions and a $1.2Â million increase in amortization expense of the Senior Management Long-Term Equity Incentive Plan (LTEIP). During the first quarter of 2014, the Company recognized one... More
