July 27, 2016
Public Storage Reports Results for the Three and Six Months Ended June 30, 2016
Public Storage (NYSE:PSA) announced today operating results for the three and six months ended June 30, 2016 . Operating Results for the Three Months Ended June 30, 2016 For the three months ended June 30, 2016 , net income allocable to our common shareholders was $280.8 million or $1.61 per diluted common share, compared to $263.9 million or $1.52 in 2015 representing an increase of $16.9 million or $0.09 . The increase is primarily due to (i) a $33.5 million increase in self-storage net operating income (described below) and (ii) an $8.6 million foreign exchange translation gain associated with our euro denominated debt, partially offset by (iii) a $15.5 million allocation to our preferred shareholders as a result of redemption activities during the three months ended June 30, 2016 and (iv) $16.7 million in gains on sale of real estate investments recorded in the three months ended June 30, 2015 . The $33.5 million increase in self-storage net operating income is a result of a $23.9...