PS Business Parks (PSB) Raises Quarterly Dividend 25% to $0.75; 3.4% Yield

PS Business Parks, Inc. Reports Results for the Fourth Quarter Ended December 31, 2015 and Increases Quarterly Common Dividend by 25.0% to $0.75 Per Share

GLENDALE, Calif.--(BUSINESS WIRE)-- PS Business Parks, Inc. (NYSE: PSB) reported operating results for the fourth quarter ended December 31, 2015.

Funds from operations (FFO), as adjusted, were $45.1 million, or $1.31 per share for the three months ended December 31, 2015, an increase of $5.8 million, or 14.8%, from the three months ended December 31, 2014 of $39.3 million, or $1.15 per share. FFO was $166.7 million, or $4.83 per share for the year ended December 31, 2015, an increase of $4.2 million, or 2.6%, from the year ended December 31, 2014 of $162.5 million, or $4.73 per share. The three month and full year increases in FFO were due to an increase in... More

Public Storage Reports Results for the Fourth Quarter and Year Ended December 31, 2015

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE: PSA) announced today operating results for the quarter and year ended December 31, 2015.

Operating Results for the Three Months Ended December 31, 2015

For the three months ended December 31, 2015, net income allocable to our common shareholders was $303.0 million or $1.74 per diluted common share, compared to $284.0 million or $1.64 in 2014 representing an increase of $19.0 million or $0.10. The increase is primarily due to (i) a $39.5 million increase in self-storage net operating income offset partially by (ii) a $30.3 million reduction in equity in earnings of... More