Storage Equities Inc., a real estate investment trust based in Glendale, said its third-quarter profit rose 19% from a year earlier, to $3.09 million from $2.59 million.
Storage Equities is one of several affiliates of Public Storage Inc., a Glendale-based operator of self-storage warehouses that invest in such facilities. In recent months, Storage Equities has also been buying stakes in other Public Storage affiliates, and it now owns more than 50% of one, PS Partners Ltd. As a result, it has merged the partnership's financial results with its own, and it restated its year-earlier results to reflect the change.
