Public Storage (PSA) Tops Q1 EPS by 8c, Revenues Beat

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Go back to Public Storage (PSA) Tops Q1 EPS by 8c, Revenues Beat

Public Storage Reports Results for the First Quarter Ended March 31, 2020

April 30, 2020 4:00 PM EDT

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE: PSA) announced today operating results for the three months ended March 31, 2020.

Operating Results for the Three Months Ended March 31, 2020

For the three months ended March 31, 2020, net income allocable to our common shareholders was $313.1 million or $1.79 per diluted common share, compared to $301.7 million or $1.73 per diluted common share in 2019 representing an increase of $11.4 million or $0.06 per diluted common share. The increase is due primarily to (i) a $9.5 million increase in self-storage net operating income (described below), (ii) a $8.5 million allocation... More