Investing.com - Public Storage (NYSE:PSA) reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Public Storage announced earnings per share of $1.97 on revenue of $829.3M. Analysts polled by Investing.com anticipated EPS of $1.92 on revenue of $803.98M.
Public Storage shares are down 13% from the beginning of the year, still down 2.49% from its 52 week high of $316.95 set on July 30. They are under-performing the S&P 500 which is up 17.8% from the start of the year.
Public Storage follows other major Real Estate sector earnings this month
Public Storage's report follows an earnings beat by American Tower on Thursday, who reported EPS of $1.65 on revenue of $2.3B, compared to forecasts EPS of $1.28 on revenue of $2.21B.
Prologis had beat expectations on July 19 with second quarter EPS of $0.81 on revenue of $1.01B, compared to forecast for EPS of $0.4287 on revenue of $1.01B.
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