Public Storage: Q4 Earnings Snapshot
By AP News
Published - Feb 20, 2024, 05:15 PM ET
Last Updated - Feb 20, 2024, 05:15 PM EST
GLENDALE, Calif. (AP) — GLENDALE, Calif. (AP) — Public Storage (PSA) on Tuesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The Glendale, California-based real estate investment trust said it had funds from operations of $740.3 million, or $4.20 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $4.15 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
