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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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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