Public Storage Q4 Profit Declines, misses estimates

(RTTNews) - Public Storage (PSA) released earnings for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $362.62 million, or $2.06 per share. This compares with $558.06 million, or $3.17 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $2.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.5% to $1.09 billion from $0.92 billion last year.

Public Storage earnings at a glance (GAAP) :

-Earnings (Q4): $362.62 Mln. vs. $558.06 Mln. last year. -EPS (Q4): $2.06 vs. $3.17 last year. -Analyst Estimates: $2.65 -Revenue (Q4): $1.09 Bln vs. $0.92 Bln last year.