Storage Equities Profit Up 4% on 6% Revenue Rise

Storage Equities Inc., a Glendale real estate investment trust, said its third-quarter profit edged up 4% from a year earlier on a 6% increase in revenue.

In the quarter ended Sept. 30, Storage Equities’ net income rose to $3.21 million from $3.09 million, and its revenue climbed to $10.9 million from $10.3 million. The company invests mainly in self-storage warehouses that are managed by affiliates of Public Storage Co., also of Glendale.

For the first nine months of 1991, Storage Equities’ profit fell 3%, to $8.89 million from $9.18 million a year earlier, and its nine-month revenue rose 5%, to $31.1 million from $29.7 million.