Investing.com - Public Storage (NYSE:PSA) reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Public Storage announced earnings per share of $1.41 on revenue of $709.29M. Analysts polled by Investing.com anticipated EPS of $1.64 on revenue of $711.88M.
Public Storage shares are down 7.51% from the beginning of the year, still down 26.16% from its 52 week high of $266.76 set on September 3, 2019. They are under-performing the S&P 500 which is up 3% from the start of the year.
Public Storage follows other major Transportation sector earnings this month
Public Storage's report follows an earnings beat by United Parcel Service on July 30, who reported EPS of $2.13 on revenue of $20.55B, compared to forecasts EPS of $1.07 on revenue of $17.5B.
Union Pacific had beat expectations on July 23 with second quarter EPS of $1.67 on revenue of $4.24B, compared to forecast for EPS of $1.56 on revenue of $4.39B.
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