April 30, 2015
Public Storage Reports Results for the Quarter Ended March 31, 2015 and Increases Quarterly Common Dividend by 21% to $1.70 Per Share
Public Storage (NYSE:PSA) announced today operating results for the quarter ended March 31, 2015 . Operating Results for the Three Months Ended March 31, 2015 For the three months ended March 31, 2015 , net income allocable to our common shareholders was $212.6 million or $1.23 per diluted common share, compared to $174.1 million or $1.01 per diluted common share for the same period in 2014 representing an increase of $38.5 million or $0.22 per diluted common share. The increase is primarily due to a $39.9 million increase in self-storage net operating income, as a result of a $25.5 million increase for our Same Store Facilities and a $14.4 million increase for our Non Same Store Facilities. Revenues for the Same Store Facilities increased 6.1% or $27.1 million in the quarter ended March 31, 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 increased by 1.1% or $1.6...