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Dec 31, 2020
Public Storage Q4 2020 Earnings Report
Public Storage's Q4 2020 earnings decreased due to foreign currency exchange losses, increase in general and administrative expenses, offset by self-storage net operating income increase.
Key Takeaways
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.
Net income allocable to common shareholders was $292.2 million, a decrease from $327.3 million in 2019.
Diluted earnings per share decreased to $1.67 from $1.87 in the same period last year.
Same Store Facilities revenues increased by 0.8%, driven by improved occupancy.
Non-Same Store Facilities net operating income increased by $10.2 million due to recent acquisitions and facility expansions.
Public Storage
Public Storage
Public Storage Revenue by Segment
Public Storage Revenue by Geographic Location
Revenue by Segment
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United States Revenue
CapyFin.com Forward Guidance
The outlook is favorable as Public Storage enters 2021, transforming the customer experience through innovation amidst strong consumer demand and executing on a robust external growth environment.