PSA - Public Storage Q4 earnings beat as same-store NOI rises 1.3%

Public Storage (PSA)  Q4 core FFO per share of $2.93 beats the average analyst estimate of $2.85 and increased from $2.84 in the year-ago quarter.Q4 revenue of $748.5M exceeds the $731.0M consensus and rose from $720.0M in the year-ago quarter.Revenue for the same-store facilities increased 0.8% Y/Y in the three months ended Dec. 31, 2020, due primarily to improved occupancy.Q4 expenses rose to $371.9M from $342.5M.Q4 same-store net operating income rose 1.3% Y/Y.During Q4, PSA acquired 43 self-storage facilities with 3.7M net rentable square feet for $513.7M.Subsequent to the quarter's end, the company acquired or was under contract to acquire 40 self-storage facilities with 3.5M net rentable square feet for $580.1M.Conference call on Feb. 25 at 12:00 PM ET.Previously (Feb. 24): Public Storage FFO beats by $0.08, beats on revenue

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Public Storage Q4 earnings beat as same-store NOI rises 1.3%