Public Storage Q4 FFO Increases

(RTTNews) - On Tuesday, Public Storage (PSA) reported that its fourth-quarter Funds from Operations or FFO increased to $666.2 million or $3.78 a share from $595.1 million or $3.38 a share in the last year quarter.

Core FFO stood at $740.2 million or $4.20 a share, compared to $732.01 million or $4.16 a share last year.

Profit rose to $389.6 million or $2.21 a share from $362.6 million or $2.06 a share in the previous year.

On average, analysts surveyed by Thomson Reuters estimated a profit of $2.73 a share.

Revenue increased to $851.4 million from $844.9 million last year.

Looking ahead, Public Storage anticipates a Core FFO of $16.60 to $17.20 per share for the fiscal year 2024.