NewzFAIRFIELD, Ohio (AP) — FAIRFIELD, Ohio (AP) — Cincinnati Financial Corp. (CINF) on Monday reported third-quarter profit of $459 million. The Fairfield, Ohio-based company said it had net income of $2.96 per share.
Earnings, adjusted for investment gains, came to $2.86 per share. The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share.
The insurer posted revenue of $3.05 billion in the period. Its adjusted revenue was $3.03 billion, meeting Street forecasts. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
Access a Zacks stock report on CINF at https://www.zacks.com/ap/CINF Source FRISCO, Texas (AP) — FRISCO, Texas (AP) — Public Storage (PSA) on Monday reported a key measure of profitability in its third quarter. The real estate investment trust, based in Frisco, Texas, said it had funds from operations of $822.8 million, or $4.34 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $4.27 per share. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $312.3 million, or $1.69 per share. The self-storage facility real estate investment trust, based in Frisco, Texas, posted revenue of $1.37 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.27 billion.
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