October 26, 2016
Public Storage Reports Results for the Three and Nine Months Ended September 30, 2016 and Increases Quarterly Common Dividend by 11% to $2.00 Per Share
Public Storage (NYSE:PSA) announced today operating results for the three and nine months ended September 30, 2016 . Operating Results for the Three Months Ended September 30, 2016 For the three months ended September 30, 2016 , net income allocable to our common shareholders was $309.0 million or $1.78 per diluted common share, compared to $273.5 million or $1.58 in 2015 representing an increase of $35.5 million or $0.20 . The increase is primarily due to (i) a $28.3 million increase in self-storage net operating income (described below) and (ii) an $8.0 million decrease in income allocated to preferred shareholders. The $28.3 million increase in self-storage net operating income is a result of an $18.1 million increase in our Same Store Facilities (as defined below) and a $10.2 million increase in our Non Same Store Facilities (as defined below). Revenues for the Same Store Facilities increased 5.1% or $26.6 million in the three months ended September 30, 2016 as compared to 2015,...