4th Quarter Earnings Nearly Doubled for Storage Equities
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Storage Equities Inc., a Glendale-based real estate investment trust that owns self-storage facilities, reported that its earnings nearly doubled in the fourth quarter to $8.2 million.
A year ago, it earned $4.3 million. Its revenue in the fourth quarter that ended Dec. 31 rose 24%, to $30.9 million from $24.9 million in the fourth quarter of 1992.
For all of 1993, Storage Equities reported net income of $28 million, an 85% increase from its $15.1-million profit in the previous year. Its annual revenue was up 18%, to $114.7 million from $97.4 million.
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