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) will present virtually at REITweek 2021 on June 8, 2021, from 12:45 p.m. to 1:15 p.m. PDT. The webcast is open to registered participants at no cost. As of March 31, 2021, Public Storage operates 2,563 self-storage facilities across 38 states, comprising approximately 176 million net rentable square feet. Additionally, it holds a 35% equity interest in Shurgard Self-Storage in Europe and a 42% equity interest in PS Business Parks. For more information, visit PublicStorage.com.
Public Storage (NYSE:PSA) is set to redeem all outstanding depositary shares linked to its 5.125% Cumulative Preferred Shares, Series C (NYSE:PSAPrC) on June 30, 2021, at a price of $25 per share. The total redemption amount will reach $200 million. As of March 31, 2021, Public Storage held interests in 2,563 self-storage facilities across 38 states, totaling approximately 176 million net rentable square feet. Additionally, it has stakes in Shurgard Self-Storage SA and PS Business Parks, Inc., enhancing its footprint in Europe and commercial spaces.
Elliott Investment Management L.P. issued a statement on May 4, 2021, highlighting Public Storage's recent Investor Day presentation. Portfolio Manager Johannes Weber commended the company's efforts in enhancing transparency and investor communication. He expressed optimism regarding the management's commitment to implement changes that are expected to positively impact Public Storage's financial performance as the company explores substantial growth opportunities. Elliott manages over $42 billion in assets and aims to support long-term value creation for its investments.
Public Storage (NYSE: PSA) has completed the acquisition of ezStorage for $1.8 billion, adding 48 properties with 4.2 million net rentable square feet in high-demand areas of Washington DC, Virginia, and Maryland. This acquisition enhances Public Storage's presence, yielding a total of 163 properties and 11.3 million net rentable square feet in the Mid-Atlantic region. The transaction, immediately accretive to FFO, was funded by $2 billion in senior unsecured notes, and is expected to enhance the company's growth strategy.
Public Storage (NYSE:PSA) reported strong operating results for Q1 2021, with net income of $2.21 per diluted share, up from $1.79 in 2020. Core Funds from Operations (FFO) rose 9.3% to $2.82 per share. This increase was driven by a 6.5% growth in same-store direct net operating income and a notable drop in operational costs.
The company acquired 15 self-storage facilities for $203.1 million and plans further acquisitions valued at $2.3 billion. Public Storage also issued $500 million in senior notes and declared a quarterly dividend of $2.00 per share.
Public Storage (NYSE:PSA) has announced its Investor Day scheduled for May 3, 2021, from 9:30 a.m. to 1:30 p.m. PDT. The event aims to showcase the company's leadership in the self-storage industry and will cover topics such as business strategies, competitive advantages, and innovation-driven growth.
CEO Joe Russell expressed enthusiasm about providing insights into the company's future and ongoing growth initiatives. The Investor Day will feature presentations from senior team members and will be accessible via webcast and conference call.
Public Storage (NYSE: PSA) has announced a public offering of $2.0 billion in senior notes in three tranches. The first tranche includes $700 million of floating rate notes due in 2024, the second tranche consists of $650 million of fixed rate notes due in 2028, and the third tranche is $650 million of fixed rate notes due in 2031. The offering will close on April 23, 2021, and net proceeds will be used primarily for an $1.8 billion acquisition of 48 self-storage facilities from ezStorage Corp. The offering is not contingent on the acquisition's closing.
Public Storage (NYSE:PSA) has acquired ezStorage for $1.8 billion, adding 48 properties with 4.2 million net rentable square feet across Washington DC, Virginia, and Maryland. This acquisition is part of Public Storage’s growth strategy, expected to increase its portfolio by 10% by expanding existing properties. Funded through unsecured debt, the deal is anticipated to be accretive to FFO following closing in May 2021. Since 2019, Public Storage has expanded by 21 million net rentable square feet through $4.1 billion in acquisitions and development.
Public Storage (NYSE: PSA) will announce its Q1 2021 earnings on April 28, 2021. A conference call is set for April 29, 2021 at 9:00 a.m. PDT to discuss the results. As of December 31, 2020, the company operated 2,548 self-storage facilities across 38 states, with around 175 million net rentable square feet. It also holds equity interests in Shurgard Self Storage and PS Business Parks.
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