PS Business Parks Q2 FFO Rises

(RTTNews) - PS Business Parks, Inc. (PSB) reported second-quarter funds from operations of $40.8 million or $1.19 per share, up from $38.0 million or $1.19 per share last year.

Adjusted funds from operations were $43.2 million or $1.26 per share compared to $38.9 million or $1.22 per share last year.

Net income allocable to PS Business Parks rose to $25.0 million or $0.36 per share, up from $23.9 million or $0.36 per share last year.

Revenues for the quarter rose to $94.2 million from $88.1 million last year.

Analysts polled by Thomson Reuters expected the company to report profit per share of $1.22 on revenue of $92 million for the quarter. Analysts' estimates typically exclude special items.