Public Storage Earnings Reports

Public Storage delivered strong Q3 2025 results with net income of $461.4 million and Core FFO of $4.31 per share, supported by robust expansion activity and stabilization in industry fundamentals.

Public Storage delivered steady performance in Q2 2025, with Core FFO inching up and over $1.1 billion in expected acquisition and development investments, despite foreign currency losses impacting GAAP net income.

Public Storage delivered a resilient performance in Q1 2025, supported by contributions from acquisitions and development projects, even as net income declined due to FX headwinds.

Public Storage reported net income of $564.4 million, with revenue reaching $1.18 billion. Core FFO per share stood at $4.21. The company expanded its portfolio with acquisitions and developments, while the overall same-store revenue showed a slight decline due to occupancy challenges.

Public Storage reported net income allocable to common shareholders of $2.16 per diluted share and core FFO of $4.20 per diluted share for the three months ended September 30, 2024. The company achieved a 78.4% same-store direct net operating income margin.

Public Storage reported a decrease in net income allocable to common shareholders for the quarter ended June 30, 2024, at $468.4 million or $2.66 per diluted share, compared to $528.3 million or $3.00 per diluted share for the same period in 2023. The decrease was primarily due to increased depreciation and amortization expense and increased interest expense, partially offset by an increase in self-storage net operating income and foreign currency exchange gains. Despite these challenges, the company repurchased $200 million of its common shares, reflecting confidence in its future outlook.

Public Storage reported first quarter results with net income allocable to common shareholders of $2.60 per diluted share and core FFO of $4.03 per diluted share. The company saw a slight decrease in net income compared to the same period last year, driven by increased depreciation, amortization, and interest expenses, offset by gains in foreign currency exchange and self-storage net operating income. Same-store revenues increased slightly, but were offset by higher operating costs.

Public Storage reported a net income allocable to common shareholders of $2.21 per diluted share for Q4 2023, with Core FFO increasing by 1.0% to $4.20 per diluted share. The company achieved a Same Store direct net operating income margin of 79.7%. They also continued to expand their portfolio through acquisitions and development projects, enhancing their position for future growth and value creation.

Public Storage reported net income allocable to common shareholders of $3.20 per diluted share and core FFO of $4.33 per diluted share for the three months ended September 30, 2023. The company's industry-leading platform drove higher move-in volumes, improved occupancy, and better-than-expected NOI growth.

Public Storage reported strong Q2 2023 results, driven by record customer move-in volume growth and solid NOI growth. The company also announced the acquisition of Simply Self Storage for $2.2 billion, further positioning it for future growth.

Public Storage's first quarter was strong, marked by a nearly 13% increase in move-in volumes, over 11% growth in same-store NOI, and almost 30% rise in non-same store acquisition and development NOI. The company is focused on operations, digital evolution, operating model transformation, and portfolio growth, positioning it to deliver growth and value.

Public Storage reported strong Q4 2022 results, with core FFO per diluted share increasing by 17.5% and same-store direct net operating income rising by 15.0%. The company's strategic focus on digital transformation, operating model enhancements, and a strong balance sheet positions it for continued growth and value creation.

Public Storage reported a significant increase in net income allocable to common shareholders, driven by a gain on the sale of its equity investment in PS Business Parks, increased self-storage net operating income, and foreign currency exchange gains.

Public Storage reported strong operating results for the three months ended June 30, 2022, with net income allocable to common shareholders of $3.42 per diluted share and Core FFO of $3.99 per diluted share, driven by strong performance across same-store and non-same store portfolios.

Public Storage reported a strong first quarter in 2022, with a significant increase in net income and core FFO per share, driven by growth in same-store and non-same-store facilities and equity share of gains from PS Business Parks, Inc.

Public Storage reported strong Q4 2021 results, with a significant increase in net income and core FFO per share compared to the same period in 2020. The company benefited from growth in both Same Store and Non-Same Store Facilities, driven by higher realized rent and occupancy.

Public Storage reported a significant increase in net income and core FFO for the three months ended September 30, 2021, driven by strong same-store performance and strategic acquisitions. The company continues to expand its portfolio and optimize its capital structure.

Public Storage reported net income allocable to common shareholders of $346.2 million, or $1.97 per diluted share, for the three months ended June 30, 2021. Core FFO was $3.15 per diluted share, a 28.0% increase year-over-year. The company acquired 84 self-storage facilities for $2.3 billion and continued to expand its development pipeline.

Public Storage reported strong Q1 2021 results, with net income allocable to common shareholders increasing to $2.21 per diluted share and core FFO growing by 9.3% to $2.82 per diluted share. Same-store direct net operating income rose by 6.5%, driven by revenue growth and cost efficiencies. The company also expanded its portfolio through acquisitions and development projects.

Public Storage reported a decrease in net income allocable to common shareholders for Q4 2020, from $327.3 million to $292.2 million, primarily due to foreign currency exchange losses and increased general and administrative expenses, despite an increase in self-storage net operating income.

Public Storage reported a decrease in net income allocable to common shareholders for the three months ended September 30, 2020, compared to the same period in 2019. The decrease was primarily due to foreign currency exchange losses, allocations to preferred shareholders, a decrease in self-storage net operating income, and an increase in depreciation and amortization expense.

Public Storage reported a decrease in net income allocable to common shareholders for the three months ended June 30, 2020, with $246.1 million or $1.41 per diluted common share, compared to $306.4 million or $1.76 per diluted common share in 2019. The decrease was primarily due to a decrease in self-storage net operating income, foreign currency exchange losses, and an increase in depreciation and amortization expense.

Public Storage reported a net income of $313.1 million, or $1.79 per diluted common share, for the three months ended March 31, 2020, compared to $301.7 million, or $1.73 per diluted common share, in 2019. Funds from operations (FFO) was $2.61 per diluted common share, as compared to $2.52 in the same period in 2019.

Public Storage reported a net income of $327.3 million or $1.87 per diluted common share for the fourth quarter ended December 31, 2019. This represents a decrease compared to the $530.1 million or $3.04 per diluted common share in 2018. The decrease was primarily due to gains from Shurgard's IPO in 2018, foreign currency exchange losses, and preferred share redemption activities.