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Storage Equities Inc

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BUSINESS
November 21, 1995
Storage Equities Inc., a Glendale real-estate investment trust, said its profit for the third quarter that ended Sept. 30 was $19.5 million, up 79% from the year-earlier profit of $10.9 million. Revenues increased 52% to $56.9 million from $37.5 million at the same time last year. For the first nine months of 1995, the profit was $49.2 million, up 65% from $29.9 million in the first three quarters last year.
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BUSINESS
November 21, 1995
Storage Equities Inc., a Glendale real-estate investment trust, said its profit for the third quarter that ended Sept. 30 was $19.5 million, up 79% from the year-earlier profit of $10.9 million. Revenues increased 52% to $56.9 million from $37.5 million at the same time last year. For the first nine months of 1995, the profit was $49.2 million, up 65% from $29.9 million in the first three quarters last year.
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BUSINESS
August 18, 1992
Storage Equities Inc., a real estate investment trust, said its second-quarter profit rose 20% from a year earlier on a 6% increase in revenue. The Glendale-based company invests in self-storage warehouses managed by affiliates of Public Storage Inc., the nation's largest operator of mini-warehouses. In the quarter ended June 30, Storage Equities' net income rose to $3.51 million from $2.92 million, and its revenue climbed to $15.2 million from $14.4 million a year earlier.
BUSINESS
September 27, 1994
Storage Equities Inc. and Public Storage Properties VIII Inc. said that a merger agreement between the two entities has been approved by shareholders of both companies. Storage Equities, the surviving entity, is a Glendale-based real estate investment trust that has invested primarily in existing mini-warehouses and self-service storage facilities. Public Storage Properties is also a real estate investment trust that has invested in mini-warehouses.
BUSINESS
October 20, 1992
Storage Equities Inc., a Glendale-based real estate investment trust, said it plans a public offering of 1.83 million shares of cumulative preferred stock. The company, an affiliate of Public Storage Co. that invests primarily in self-storage warehouses, already has publicly held common stock outstanding. Storage Equities said it plans to use about $42 million of the net proceeds from the preferred stock sale to repay existing bank and mortgage debt, subject to lenders' approvals. Salomon Bros.
BUSINESS
January 12, 1993
An investor group led by Public Storage Partners Ltd. has raised its stake in Storage Equities Inc. to 8.1% of the company's stock. Storage Equities, based in Glendale, is a real estate investment trust that invests mainly in self-storage warehouses affiliated with Public Storage Inc., a privately held concern that also is based in Glendale. Public Storage Partners, in turn, includes several executives of the Public Storage system.
BUSINESS
May 21, 1991
Storage Equities Inc. said its first-quarter profit fell 24%, to $2.77 million from $3.63 million a year earlier, when its earnings were boosted by a $1.2-million gain from the sale of real estate. Excluding that gain, Storage Equities' earnings were up 11% from a year ago, and the Glendale-based company's revenue in the quarter ended March 31 edged up 4%, to $9.93 million from $9.59 million.
BUSINESS
March 23, 1993
Storage Equities Inc., a Glendale real estate investment trust that owns self-service storage facilities, said it has sold 2.3 million shares of 9.2% cumulative preferred stock at $25 per share. The company expects to raise a total of $55.5 million in net proceeds from the stock sale, which it would use to repay its $928,000 in bank debt and to purchase new warehouses.
BUSINESS
March 8, 1994
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.
BUSINESS
September 13, 1994
Storage Equities Inc., a Glendale-based real estate investment trust, said it has secured $75 million in revolving credit through an agreement with a bank group led by Wells Fargo Bank. The company said the credit facilities will provide for working capital needs and acquisitions and will fund cash requirements of mergers and tender offers. During the first six months of 1994, Storage Equities acquired 24 properties valued at between $50 million and $60 million, a company spokesman said.
BUSINESS
March 8, 1994
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.
BUSINESS
November 16, 1993
Storage Equities Inc., a Glendale-based real estate investment trust, reported that its third-quarter profit almost doubled to $7.9 million, including a $398,000 gain from the sale of properties. The company's net income for the three months ended Sept. 30 compares with net income of $4.4 million in the year-earlier quarter. Revenue rose 21% in the latest quarter to $30.4 million from $25.2 million a year ago. For the nine months, Storage Equities earned $19.8 million, or nearly double the $10.
BUSINESS
August 17, 1993
Storage Equities Inc., a Glendale real estate investment trust that owns self-service storage facilities and business parks, said its second-quarter profits nearly doubled from a year earlier on a 18% revenue gain. The company's net income rose to $6.88 million in the three months that ended June 30 from $3.51 million in the same period last year. Revenue in the latest quarter climbed to $18.14 million from $15.43 million a year earlier.
BUSINESS
March 23, 1993
Storage Equities Inc., a Glendale real estate investment trust that owns self-service storage facilities, said it has sold 2.3 million shares of 9.2% cumulative preferred stock at $25 per share. The company expects to raise a total of $55.5 million in net proceeds from the stock sale, which it would use to repay its $928,000 in bank debt and to purchase new warehouses.
BUSINESS
March 9, 1993
Storage Equities Inc., a Glendale-based real estate investment trust, plans to offer 1.4 million shares of series B cumulative preferred stock. The trust's common stock is already publicly held. Proceeds from the offering, which is being managed by PaineWebber Inc., are estimated at $35 million and will be used to repay debt and for purchasing real estate, according to Storage Equities' filing with the Securities and Exchange Commission.
BUSINESS
January 12, 1993
An investor group led by Public Storage Partners Ltd. has raised its stake in Storage Equities Inc. to 8.1% of the company's stock. Storage Equities, based in Glendale, is a real estate investment trust that invests mainly in self-storage warehouses affiliated with Public Storage Inc., a privately held concern that also is based in Glendale. Public Storage Partners, in turn, includes several executives of the Public Storage system.
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