Public Storage misses FFO estimates as occupancy falls [Yahoo! Finance]
Public Storage (PSA)
Last public storage earnings: 4/30 04:00 pm
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US:NYSE Investor Relations:
investors.publicstorage.com/home/default.aspx
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Source: Yahoo! Finance
The company, which leases out storage spaces for both personal and business use on a monthly basis, reported core FFO of $4.03 per share for the quarter ended March 31, missing analysts' estimate of $4.09 per share, according to LSEG data. A weak freight environment and softer home sales are now squeezing demand for storage space after companies enjoyed a surge in demand during the pandemic, crimping revenues at storage facility providers. While higher rent helped Public Storage report a near 6% increase in total revenues to $1.16 billion, edging previous estimates of $1.15 billion, the company's profits took a hit from higher costs tied to depreciation and amortization of assets. Its net income allocable to shareholders stood at $459.2 million, or $2.60 per share, down from $467.6 million, or $2.65 per share, a year earlier. Same-store facilities revenue, a performance metric used to evaluate the total sales at the company's existing locations over a given period of time, wa
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PSA
News
- Public Storage (NYSE: PSA) had its price target lowered by analysts at Barclays PLC from $330.00 to $327.00. They now have an "overweight" rating on the stock.MarketBeat
- Here's Why Public Storage (PSA) is an Apt Portfolio Pick Now [Yahoo! Finance]Yahoo! Finance
- Public Storage Declares Second Quarter 2024 Dividends [Yahoo! Finance]Yahoo! Finance
- Public Storage Declares Second Quarter 2024 DividendsBusiness Wire
- A Public Service Announcement On Public Storage - It's A 'Buy' [Seeking Alpha]Seeking Alpha
PSA
Earnings
- 4/30/24 - Beat
PSA
Sec Filings
- 5/15/24 - Form 4
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- PSA's page on the SEC website