Public Storage Q4 FFO Rises

(RTTNews) - Public Storage (PSA) reported net income for the fourth quarter of $284.0 million or $1.64 per share, compared to $243.7 million or $1.41 per share for the year-ago quarter.

Funds from operations for the fourth quarter was $2.17 per share, compared to $2.13 per share in the prior year quarter. Core FFO for the quarter grew to $2.20 per share from $2.08 per share last year.

Total revenue for the fourth quarter rose to $566.15 million from $513.51 million a year earlier.

Analysts polled by Thomson Reuters expected the company to report FFO of $2.19 per share on revenue of $527.71 million for the fourth quarter.