Investing.com - Public Storage (NYSE:PSA) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Public Storage announced earnings per share of $1.79 on revenue of $716.1M. Analysts polled by Investing.com anticipated EPS of $1.7 on revenue of $718.48M. That with comparison to EPS of $1.73 on revenue of $689.04M in the same period a year before. Public Storage had reported EPS of $1.87 on revenue of $717.5M in the previous quarter. Analysts are expecting EPS of $1.7 and revenue of $720.3M (NYSE:MMM) in the upcoming quarter.
Public Storage shares are down 12.92% from the beginning of the year , still down 30.48% from its 52 week high of $266.76 set on September 3, 2019. They are under-performing the S&P 500 which is down 10.24% year to date.
Public Storage follows other major Transportation sector earnings this month
Public Storage's report follows an earnings beat by Union Pacific on April 23, who reported EPS of $2.15 on revenue of $5.23B, compared to forecasts EPS of $1.9 on revenue of $5.11B.
United Parcel Service had missed expectations on Tuesday with first quarter EPS of $1.15 on revenue of $18.04B, compared to forecast for EPS of $1.25 on revenue of $17.34B.
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