Public Storage Reports Mixed Results (PSA)

Public Storage (PSA) reports Q3 earnings of $1.07 versus consensus of $1.34. Public Storage reports revenues of $422.8 million versus consensus of $382.39 million. Revenues for the Same Store Facilities increased 1.2% year over year. At September 30, 2010, PSA had approximately $513.5 million of cash and $102.1 million of short-term investments in high-grade corporate securities. Public Storage, a member of the S&P 500, The Forbes Global 2000 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The company's headquarters are located in Glendale, California. At September 30, 2010, the company had interests in 2,044 self-storage facilities located in 38 states with approximately 129 million net rentable square feet in the United States and 189 storage facilities located in seven Western European nations with approximately ten million net rentable square feet operated under the "Shurgard" brand.