Public Storage: Q2 Earnings Snapshot
By AP News
Published - Jul 31, 2024, 03:24 AM ET
Last Updated - Jul 31, 2024, 03:24 AM EDT
GLENDALE, Calif. (AP) — GLENDALE, Calif. (AP) — Public Storage (PSA) on Tuesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Glendale, California, said it had funds from operations of $744.9 million, or $4.23 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $4.20 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.
