Storage Properties Reports Little Change in Profit

Storage Properties Inc., a real estate investment trust in Glendale, reported virtually no change in its third-quarter profit and revenue compared with a year earlier.

The trust, which invests largely in self-storage warehouses in the Public Storage network, said its net income in the quarter ended Sept. 30 inched down to $775,000 from $780,000, while its revenue was unchanged at $915,000.

As an investment trust, Storage Properties pays no federal income tax because nearly all of its earnings are distributed to its stockholders.

Storage Properties’ profit for the first nine months of 1992 rose to $2.34 million from $2.28 million a year earlier, and its nine-month revenue edged up to $2.72 million from $2.71 million.