WASHINGTON (dpa-AFX) - Public Storage (PSA) Thursday reported first-quarter funds from operations or FFO allocable to common shares of $270.8 million or $1.57 per share, compared to $230.8 million or $1.35 per share in the comparable quarter last year.
For the quarter, net income allocable to common shareholders was $161.9 million or $0.94 per common share, compared to $125.3 million or $0.73 per share in the previous year quarter.
Total operating revenues for the quarter rose to $470.90 million from $439.84 million last year.
Analysts polled by Thomson Reuters expected the company report FFO of $1.62 per share on revenues of $429.43 million for the quarter. Analysts' estimates typically exclude special items.
On May 9, 2013, the company's Board of Trustees declared a regular common quarterly dividend of $1.25 per common share. The Board also declared dividends with respect to various series of preferred shares. All the dividends are payable on June 27, 2013 to shareholders of record as of June 12, 2013.
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