Public Storage
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Large Cap Blend
Company profile

Public Storage is a real estate investment trust (REIT). The Company's principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space. The Company's segments include Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. (PSB) and Investment in Shurgard Europe. As of December 31, 2016, the Company had direct and indirect equity interests in 2,348 self-storage facilities (with approximately 154 million net rentable square feet) located in 38 states in the United States operating under the Public Storage name.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

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Closing Price
$25.13
Day's Change
0.24 (0.96%)
Bid
--
Ask
--
B/A Size
--
Day's High
25.17
Day's Low
24.85
Volume
(Heavy Day)
Volume:
30,991

10-day average volume:
22,920
30,991

Palantir shares fall sharply after first earnings report as public company

4:31 pm ET November 12, 2020 (MarketWatch)
Print

By Levi Sumagaysay

Palantir Technologies Inc. reported earnings Thursday for the first time since going public, posting a quarterly loss of nearly $900,000 but saying demand for its products grew steadily.

Shares of Palantir (PLTR) fell sharply in after-hours trading, about 6%, after closing the regular session at $14.54, down 8.9%. Before Thursday, the data-analytics company's stock had risen nearly 60% since it started trading at $10 on Sept. 30.

The company reported a third-quarter net loss of $853.3 million, or 94 cents a share, compared with a loss of $144.1 million, or 24 cents a share, in the year-ago period. It brought in revenue of $289 million, a 52% increase from revenue of $191 million in the third quarter last year.

Analysts surveyed by FactSet on average had expected the company to post earnings of 2 cents a share on revenue of $279.4 million.

The company touted new contracts it secured in the third quarter, including one for $91 million with the U.S. Army, $36 million with the National Institutes of Health and a $300 million renewal with an aerospace customer.

Palantir's software offerings range from helping governments with surveillance and warfare to enabling corporations track manufacturing processes. Its work with the government, especially Immigration and Customs Enforcement and the Department of Homeland Security, has been controversial. After sustained protests by immigration activists at the company's Palo Alto, Calif, office, it moved its headquarters to Denver, Colo. Chief Executive Alex Karp said in a letter included with the company's filing in August for a direct listing that "we seem to share fewer and fewer of the technology sector's values and commitments."

See: Palantir takes swings at Silicon Valley on its way to Wall Street (https://www.marketwatch.com/story/palantir-takes-swings-at-silicon-valley-on-its-way-to-wall-street-2020-08-25?mod=article_inline)

Palantir was co-founded by Karp, Facebook Inc. (FB) investor and board member Peter Thiel, and Stephen Cohen, who is now president at Palantir. The company was helped in the beginning with funding from the Central Intelligence Agency's In-Q-Tel arm.

-Levi Sumagaysay; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 12, 2020 16:31 ET (21:31 GMT)

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