Investing.com - Public Storage (NYSE:PSA) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Public Storage announced earnings per share of $1.79 on revenue of $716.1M. Analysts polled by Investing.com anticipated EPS of $1.7 on revenue of $718.48M. That with comparison to EPS of $1.73 on revenue of $689.04M in the same period a year before.Public Storage had reported EPS of $1.87 on revenue of $717.5M in the previous quarter.Analysts are expecting EPS of $1.7 and revenue of $720.3M (NYSE:MMM) in the upcoming quarter.
Public Storage shares are down 12.92% from the beginning of the year and are trading at $185.45 , down-from-52-week-high.They are under-performing the S&P 500 which is down 10.24% year to date.
Public Storage follows other major Transportation sector earnings this month
Public Storage's report follows an earnings beat by Union Pacific on Thursday, April 23, 2020, who reported EPS of $2.15 on revenue of $5.23B, compared to forecasts EPS of $1.9 on revenue of $5.11B.
United Parcel Service had missed expectations on Tuesday with first quarter EPS of $1.15 on revenue of $18.04B, compared to forecast for EPS of $1.25 on revenue of $17.34B.
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