Public Storage Q4 2020 Earnings Report
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
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.