April 26, 2016
Public Storage Reports Results for the Quarter Ended March 31, 2016 and Increases Quarterly Common Dividend to $1.80 Per Share
Public Storage (NYSE:PSA) announced today operating results for the quarter ended March 31, 2016 . Operating Results for the Three Months Ended March 31, 2016 For the three months ended March 31, 2016 , net income allocable to our common shareholders was $241.3 million or $1.39 per diluted common share, compared to $212.6 million or $1.23 in 2015 representing an increase of $28.7 million or $0.16 . The increase is primarily due to (i) a $45.3 million increase in self-storage net operating income offset partially by (ii) an $11.0 million foreign exchange translation loss, associated with our euro denominated debt, incurred in the quarter ended March 31, 2016 . The $45.3 million increase in self-storage net operating income is a result of a $34.6 million increase in our Same Store Facilities and a $10.7 million increase in our Non Same Store Facilities. Revenues for the Same Store Facilities increased 6.5% or $30.8 million in the three months ended March 31, 2016 as compared to 2015,...