Investing.com - Public Storage (NYSE:PSA) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Public Storage announced earnings per share of $2.63 on revenue of $973.45M. Analysts polled by Investing.com anticipated EPS of $2.32 on revenue of $974.37M.
Public Storage shares are down 4.69% from the beginning of the year and are trading at $357.01 , down-from-52-week-high.They are outperforming the S&P 500 which is down 12.39% 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 Prologis on April 19, who reported EPS of $1.54 on revenue of $1.08B, compared to forecasts EPS of $0.6806 on revenue of $1.08B.
American Tower had beat expectations on April 27 with first quarter EPS of $1.56 on revenue of $2.6B, compared to forecast for EPS of $1.11 on revenue of $2.6B.
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