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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Public Storage | NYSE:PSA | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 5.30 | 2.04% | 265.45 | 265.47 | 259.61 | 262.43 | 927,450 | 01:00:00 |
From May 2019 to May 2024
By Maria Armental
Public Storage reported on Wednesday that net income and revenue fell in the second quarter, showing the impact from the coronavirus pandemic. Here's what you need to know.
PROFIT: Net income fell to $314.9 million, or $1.41 a share, from $370.1 million, or $1.76 a share, a year earlier. Analysts surveyed by FactSet expected $1.64 a share.
FFO: Funds from operations, a key measure for REITs, fell to $2.28 a share from $2.57 a share a year earlier. Core FFO fell to $2.46 a share. Analysts expected FFO of $2.57 a share and core FFO of $2.54 a share.
REVENUE: Revenue fell to $709.3 million, from $711 million a year earlier. Analysts expected $711.9 million.
PANDEMIC: Company officials had said they saw a significant drop in demand for self-storage space since late March, which led to lower move-in volumes despite lower move-in rental rates. The company temporarily curtailed its existing tenant rate increase program.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
August 05, 2020 16:25 ET (20:25 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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