October 28, 2015
Public Storage Reports Results for the Three Months Ended September 30, 2015
Public Storage (NYSE:PSA) announced today operating results for the three months ended September 30, 2015 . Operating Results for the Three Months Ended September 30, 2015 For the three months ended September 30, 2015 , net income allocable to our common shareholders was $273.5 million or $1.58 per diluted common share, compared to $231.8 million or $1.34 per diluted common share for the same period in 2014 representing an increase of $41.7 million or $0.24 per diluted common share. The increase is primarily due to a $41.6 million increase in self-storage net operating income as a result of a $29.5 million increase in our Same Store Facilities and a $12.1 million increase in our Non Same Store Facilities. Revenues for the Same Store Facilities increased 6.7% or $31.9 million in the three months ended September 30, 2015 as compared to the same period in 2014, due primarily to higher realized annual rent per occupied square foot. Cost of operations for the Same Store Facilities...