Welcome to our dedicated page for Public Storage news (Ticker: PSA), a resource for investors and traders seeking the latest updates and insights on Public Storage stock.
Public Storage (PSA) is a leading real estate investment trust specializing in self-storage solutions across the United States and Europe. This page serves as your centralized source for official company announcements, financial updates, and industry-related news.
Investors and stakeholders can track PSA's latest developments through press releases covering quarterly earnings, facility expansions, strategic partnerships, and operational milestones. Our curated collection ensures access to verified information directly from the company and trusted financial sources.
Key news categories include financial performance reports, acquisition activities, management updates, and market positioning strategies. Each update is organized to provide clear context while maintaining compliance with financial disclosure standards.
Bookmark this page for real-time access to Public Storage's evolving story. Check back regularly to stay informed about the company's operational decisions and their impact within the competitive self-storage sector.
Public Storage (NYSE:PSA) has announced it will release its first quarter 2025 earnings results after market close on Wednesday, April 30, 2025, followed by a conference call on Thursday, May 1, 2025, at 9:00 a.m. (PT).
As of December 31, 2024, Public Storage, an S&P 500 REIT member, owns and operates 3,380 self-storage facilities across 40 states, comprising approximately 245 million net rentable square feet in the United States. Additionally, the company holds a 35% common equity interest in Shurgard Self Storage , which operates 318 facilities with about 17 million net rentable square feet across seven Western European nations.
Public Storage (NYSE:PSA) and Ki have submitted a non-binding indicative offer to acquire Abacus Storage King (ASX:ASK) for A$1.47 per stapled security. The acquisition targets all outstanding securities not already held by Ki Group, ASK's major securityholder.
Abacus Storage King operates approximately 126 properties, 21 development sites, and 75 managed/licensed properties across Australia and New Zealand. Post-transaction, Ki and Public Storage would each hold approximately 50% interest.
The deal aims to leverage Public Storage's expertise to enhance ASK's customer experience, operating performance, and portfolio growth in the Australian and New Zealand markets, which benefit from strong population growth and increasing consumer adoption. Public Storage currently owns/operates 3,380 self-storage facilities in 40 US states and holds a 35% stake in Shurgard Self Storage in Europe.
Public Storage (NYSE:PSA) announced its operating results for Q4 and the year ended December 31, 2024. The company reported a net income of $3.21 per diluted share for Q4 and $10.64 per diluted share for the year. Core FFO was $4.21 per diluted share for Q4 and $16.67 for the year.
Key highlights include:
- Acquisition of 17 self-storage facilities for $221.2 million in Q4 and 22 facilities for $267.5 million for the year.
- Opened three newly developed facilities in Q4 and seven for the year, adding 1.5 million net rentable square feet at a cost of $343.4 million.
- Repurchased $200 million of common shares at an average price of $275 per share.
- Issued $1.0 billion of unsecured senior notes and €150 million of senior notes.
For Q4, net income increased by $174.7 million YoY due to a $193.9 million increase in foreign currency gains, partially offset by a $17.0 million decrease in gain on sale of real estate. Self-storage net operating income decreased by $3.0 million due to a $7.2 million decrease in Same Store Facilities, partially offset by a $4.3 million increase in Non-Same Store Facilities.
For the year, net income decreased by $76.1 million due to increased expenses, despite a $153.4 million increase in foreign currency exchange gains and a $61.6 million increase in self-storage net operating income.
Looking ahead, the company expects a $0.23 per share impact to Core FFO in 2025 due to pricing restrictions in Los Angeles.
Public Storage (NYSE:PSA) has announced its plans to release fourth quarter 2024 earnings results after market close on February 24, 2025, followed by a conference call on February 25, 2025, at 9:00 a.m. (PT). The company will host both domestic and international dial-in options, along with a webcast accessible through March 11, 2025.
As of September 30, 2024, Public Storage, an S&P 500 REIT member, owned and operated 3,333 self-storage facilities across 40 states, comprising approximately 241 million net rentable square feet in the United States. Additionally, the company maintains a 35% common equity interest in Shurgard Self Storage , which operates 315 facilities with about 17 million net rentable square feet across seven Western European nations.
Public Storage (NYSE:PSA) has released the tax treatment details for its 2024 dividends. The company reported that 100% of distributions for both common stock and all preferred stock series were classified as ordinary dividends across all four quarters of 2024, with no capital gain distributions. These ordinary dividends do not qualify as 'qualified dividend income,' but are considered 'qualified REIT dividends' for non-corporate shareholders in determining qualified business income.
As of September 30, 2024, Public Storage operated 3,333 self-storage facilities across 40 states, comprising approximately 241 million net rentable square feet in the United States. Additionally, the company maintains a 35% common equity interest in Shurgard Self Storage , which operates 315 facilities across seven Western European nations.
Public Storage (NYSE:PSA) reported Q3 2024 results with net income of $2.16 per diluted share, down from $3.20 in Q3 2023. Core FFO was $4.20 per share, representing a 3.0% decrease from the previous year. The company's Same Store direct net operating income margin reached 78.4%. Key operational metrics showed some pressure, with Same Store revenues decreasing 1.3% due to lower realized rent per occupied square foot and declining occupancy. During the quarter, PSA acquired three self-storage facilities for $24.3 million and had 14 additional facilities under contract for $181.2 million. The company also expanded its portfolio through development, adding 0.5 million net rentable square feet at a cost of $142.6 million.
Public Storage (NYSE:PSA) has announced the appointment of Chris Sambar as its new Chief Operating Officer. Sambar, a former President at AT&T Communications, brings extensive leadership experience to the company. His background includes various leadership roles at AT&T since 2002, as well as service as a United States Navy SEAL. Sambar's focus on people, strategy, and innovation aligns with Public Storage's operations across more than 5,900 employees, 3,400 branded properties, and two million customers.
Joe Russell, Public Storage's CEO, expressed excitement about Sambar's proven success and leadership. Sambar himself commented on Public Storage's respected position in the real estate industry and its transformation of the operating model through digital innovation. He looks forward to furthering innovation and advancing operating strategies to meet growing customer needs while enhancing employee growth and engagement.
Public Storage (NYSE:PSA) has announced it will release its third quarter 2024 earnings results after market close on Wednesday, October 30, 2024. A conference call to discuss these results is scheduled for Thursday, October 31, 2024, at 9:00 a.m. (PT). The company has provided domestic and international dial-in numbers for both the live call and the replay, which will be accessible through November 14, 2024.
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT primarily focused on self-storage facilities. As of June 30, 2024, the company had interests in 3,049 self-storage facilities across 40 U.S. states, totaling approximately 219 million net rentable square feet. Additionally, Public Storage holds a 35% common equity interest in Shurgard Self Storage , which operates 281 facilities in seven Western European nations.
Public Storage (NYSE:PSA), a leading self-storage REIT and member of the S&P 500 and FT Global 500, has announced its third quarter 2024 dividends. The company's Board of Trustees declared a regular quarterly common dividend of $3.00 per share, payable on September 30, 2024, to shareholders of record as of September 13, 2024. Dividends were also declared for various series of preferred shares.
As of June 30, 2024, Public Storage's portfolio included 3,049 self-storage facilities across 40 U.S. states, totaling approximately 219 million net rentable square feet. Additionally, the company holds a 35% common equity interest in Shurgard Self Storage , which operates 281 facilities in seven Western European countries under the Shurgard® brand.
Public Storage (NYSE:PSA) reported results for the three and six months ended June 30, 2024. Net income for Q2 was $2.66 per diluted share, down from $3.00 in Q2 2023. Core FFO was $4.23 per share. Key highlights include: a $200 million share repurchase, acquisition of two self-storage facilities for $22 million, and issuance of €150 million in senior notes. The company also completed a $1 billion public offering of senior notes. Despite challenges with customer move-in rents due to industry competition, the company remains confident, reflecting this through their share repurchase program.
For the six months, net income was $5.26 per share, down from $5.65 in the same period in 2023. Depreciation and interest expenses increased, partially offset by higher foreign currency gains and improved net operating income from Non-Same Store facilities. The company remains optimistic about the future, adjusting its outlook to account for market dynamics.
