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S&P 500 (NYSE:SPY) component Public Storage (NYSE:PSA) reported its results for the fourth quarter. Public Storage is a real estate investment trust (REIT) with a focus on the acquisition, development, ownership, and operation of self-storage facilities.
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Public Storage Earnings Cheat Sheet for the Fourth Quarter
Results: The company’s funds from operations (FFO) came in at a gain of $1.50. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It fell short of the consensus estimate of $1.59 per share.
Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the first quarter of the next fiscal year is $1.46 per share, up from $1.44 ninety days ago. For the fiscal year, the average estimate has moved down from $5.79 a share to $5.78 over the last thirty days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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