Public Storage Q3 FFO Rises

(RTTNews) - Public Storage (PSA) reported that its third-quarter funds from operations allocable to common shares increased to $360.25 million from $345.46 million in the same quarter last year. Quarterly funds from operations were $2.08 per share, compared to $2.00 in the previous year.

Quarterly net income allocable to common shareholders was $231.8 million or $1.34 per share, compared to $231.4 million or $1.34 per share for the same period in 2013.

Quarterly operating revenues rose to $571.60 million from $511.96 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.06 per share and revenues of $517.63 million. Analysts' estimates typically exclude special items.

The company declared a regular common quarterly dividend of $1.40 per common share. The Board also declared dividends with respect to various series of preferred shares. All the dividends are payable on December 30, 2014 to shareholders of record as of December 15, 2014.