WASHINGTON (dpa-AFX) - Public Storage (PSA) reported first-quarter funds from operations or FFO, to common shares of $230.8 million or $1.35 per share, compared to $252.7 million or $1.48 per share last year.
Net income allocable to common shareholders for the quarter $125.3 million or $0.73 per share, down from $148.1 million or $0.87 per share in the same period last year.
On average, nineteen analysts polled by Thomson Reuters expected FFO of $1.42 per share for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues for the quarter were $442.62 million, compared with $419.69 million in the comparable quarter last year. Wall Street analysts on a consensus estimated revenues of $410.53 million for the quarter.
Further, the company's Board of Trustees declared a regular common quarterly dividend of $1.10 per common share. The Board also declared dividends with respect to our various series of preferred shares. All the dividends are payable on June 28, 2012 to shareholders of record as of June 13, 2012.
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