Revenue segments as reported by the company.

Self-storage facilities

Ancillary operations

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Depreciation and amortization

General and administrative

Interest expense

Real estate acquisition and development expense

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Public Storage

Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Other Items segment includes general, administrative, and investment costs. The company was founded by Bradley Wayne Hughes, Sr. and Kenneth Q. Volk, Jr. in 1972 and is headquartered in Glendale, CA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Public Storage posts record 2022 results, eyes sustainable growth

Public Storage delivered strong financial performance in Q4 2022, with record results and a focus on sustainable growth strategies.
The company faces challenges from seasonal occupancy patterns and potential rate adjustments but remains resilient in its financial management.
Opportunities for growth lie in operational improvements, energy efficiency investments, and the trend of increased storage adoption post-pandemic.
Overall, Public Storage's prudent financial management, strategic asset acquisitions, and customer retention efforts position it well for future success.

Public Storage excels in Q1 2023, poised for growth

Public Storage's Q1 performance reflects operational excellence and strategic focus on growth initiatives, positioning the company for continued success.
Despite challenges in labor optimization and market dynamics, the company's strong financial position and innovative programs provide a solid foundation for future growth.
With a clear emphasis on efficiency gains, expansion opportunities, and market expertise, Public Storage remains well-positioned to capitalize on evolving industry trends.

Public Storage reports strong Q2 performance and strategic growth outlook

Public Storage's Q2 2023 earnings call highlighted robust performance, strategic acquisitions, and market resilience amidst concerns of a potential slowdown. With a focus on digital transformation, customer retention, and growth opportunities, the company aims to navigate challenges and capitalize on market trends for sustained success.

Public Storage excels in Q3, faces challenges amidst market shifts

Public Storage's Q3 performance reflects operational strength and growth potential, supported by digital initiatives and strategic acquisitions.
Challenges include managing negative revenue growth, increasing expenses, and adapting to a changing market landscape.
The company's focus on customer experience, cost management, and revenue optimization positions it well for future opportunities and sustained growth.

Public Storage reports robust Q4 performance and eyes growth opportunities

Public Storage's Q4 2023 performance showcased strong financial results and operational achievements, with a positive outlook for 2024.
The company's strengths lie in market resilience, customer conversion rates, and strategic acquisitions, while facing challenges in short-term revenue trends.
Opportunities for growth include digital transformation, revenue enhancement through occupancy improvements, and continued momentum in acquisitions.
Overall, Public Storage remains confident in its industry positioning and aims for a rebound in financial metrics in the latter half of 2024.

Public Storage reports Q1 decline in core FFO, eyes growth opportunities

Public Storage's Q1 2024 performance showed a decline in core FFO but positive same-store revenue growth and improving occupancy rates. Despite challenges like cost pressures and localized market impacts, they remain optimistic about capturing new customer activity and maintaining strong financial health. Opportunities lie in reaccelerating revenue growth, acquisition volume guidance, and improving trends in select markets.

Public Storage reports Q2 challenges, eyes growth opportunities ahead

Public Storage faced challenges with move-in rents decline but showcased strengths in occupancy trends and non-same-store pool performance.
The company's revised core FFO guidance and capital allocation decisions were key discussion points.
Opportunities lie in the acquisition market activity, move-in rates improvement, and strategic growth initiatives.
Overall, Public Storage demonstrated positive momentum and a focus on long-term stability and growth.

Public Storage sees stabilization in Q3 performance, eyes growth opportunities

Public Storage's Q3 performance reflects stabilization in operating fundamentals and revenue growth acceleration, despite challenges in core FFO and occupancy.
The company's strengths lie in its digital customer experience, strategic promotional discounts, and positioning for improvement in 2025.
Challenges include declining core FFO, occupancy, and a slight decrease expected in development deliveries for 2025.
Opportunities for Public Storage include anticipated improvement in 2025, growth potential in acquisitions, and future development starts from land holdings.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Life Storage

With PSA's most recent moves, including the increased dividend, LSI's management team will have to engage in M&A discussions. We believe that any discussions will lead to a higher valuation for LSI, especially as the deal is all-equity and taxable to LSI shareholders.

Life Storage Equity Holders Should Expect A Higher Offer From Public Storage

The unsolicited offer is one of the biggest of the year so far.

Public Storage Makes $11 Billion Bid for Rival After First Offer Was Refused

GLENDALE, Calif.--( BUSINESS WIRE )--Public Storage (NYSE: PSA), the nation's leading owner, acquirer, developer, and operator of self-storage properties, today sent a letter to Mark G. Barberio, Life Storage's Chairman, and Joseph V. Saffire, Life Storage's CEO, copied in full below, with respect to its proposal to acquire all of the outstanding shares and units of Life Storage, Inc. (NYSE: LSI) in an all-stock transaction.

Public Storage Proposes to Acquire Life Storage in All-Stock Transaction

GLENDALE, Calif.--( BUSINESS WIRE )--Public Storage (NYSE:PSA) announced today that its Board of Trustees declared a 50% increase in the Company's regular common quarterly dividend from $2.00 to $3.00 per share. The distribution equates to an annualized increase to the Company's regular common dividend from $8.00 to $12.00 per share. The Board also declared dividends with respect to the Company's various series of preferred shares. All the dividends are payable on March 30, 2023 to shareholders of record as of March 15, 2023.

Public Storage Increases Quarterly Common Dividend by 50%

Public Storage has made an $11 billion unsolicited offer for Life Storage Inc , the Wall Street Journal reported on Sunday.

Public Storage makes $11 billion unsolicited offer for Life Storage - WSJ

Public Storage has made an $11 billion unsolicited offer for its smaller rival Life Storage Inc., ramping up an effort to buy its smaller rival after an earlier bid was rejected, in a move that would create a bigger player in the self-storage industry.

Public Storage makes $11 billion bid to buy smaller rival Life Storage

The smaller rival rebuffed the company's overtures in December and January.

Public Storage Makes $11 Billion Unsolicited Offer for Life Storage

Kroger

Medtronic

These are all profitable businesses that can provide your portfolio with above-average payouts.

3 Dividend Stocks Near Their 52-Week Lows to Buy Right Now

GLENDALE, Calif.--( BUSINESS WIRE )--Public Storage (NYSE:PSA) announced today it intends to release its fourth quarter 2022 earnings results after the market close on Tuesday, February 21, 2023. A conference call is scheduled for Wednesday, February 22, 2023, at 9:00 a.m. (PST) to discuss these results.

Public Storage to Release Fourth Quarter 2022 Earnings Results and Host Quarterly Conference Call

Boston Properties

First Industrial Realty Trust

Host Hotels & Resorts

Mid-America Apartment Communities

Healthpeak Properties

Simon Property Group

Last year was the worst year for publicly-traded real estate investment trusts, or REITs, since 2008, as was recently pointed out in an article on WealthManagement . The FTSE All Equity REIT Index lost a quarter of its value last year compared with a 40% drop during 2008.

7 REITs That Will Be Big Winners in 2023

GLENDALE, Calif.--( BUSINESS WIRE )--Public Storage (NYSE:PSA) announced today the tax treatment of the Company's 2022 dividends. For the tax year ended December 31, 2022, distributions for the PSA common stock and all the various series of preferred stock were classified as follows:

Public Storage Announces Tax Treatment of 2022 Dividends

Cisco Systems

McDonald's

Mondelez

Altria

Procter & Gamble

Walmart

While it may be tough to sell this to somebody who just finished going to the grocery store, inflation is finally falling.

Inflation Finally Slows and 7 ‘Strong Buy' Dividend Stocks Look Like Big 2023 Winners

EPR Properties

Iron Mountain

OUTFRONT Media

Tanger Factory Outlet Centers

Walker & Dunlop

I own all eight and think they could be major long-term outperformers.

8 Real Estate Stocks That Could Crush the Market

AvalonBay Communities

Camden Property

Equity Residential

Realty Income Corp

Prologis

Did you know that some of my followers call me Mr. T? That shouldn't be a surprise since my last name is Thomas, right?

I Pity The Fool That Doesn't Own These A-Rated REITs

Public Storage (PSA) is poised to gain from high brand value, strategic acquisitions and robust presence in key cities. However, a development boom in many markets is a concern.

Should You Hold Onto Public Storage (PSA) Stock Right Now?

CubeSmart

Extra Space Storage

National Storage Affiliates Trust

AMERCO

I've always liked the self-storage business due to its low capex requirement and the somewhat sticky customer mindset. Perhaps I'm biased because as my wife tells me “I'm a pack rat” and I tend to keep everything.

Storage Wars: May The Force Be With You

AbbVie

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CME Group

Canadian Pacific Kansas City Limited

Chevron

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Danaher

Duke Energy

Huntington Bancshares

Home Depot

Huntington Ingalls Industries

L3Harris

Lockheed Martin

Nasdaq

Northrop Grumman

Norfolk Southern

PepsiCo

Raytheon Technologies

Schwab US Dividend Equity ETF

Union Pacific

Vanguard Dividend Appreciation ETF

Valero Energy

Vanguard High Dividend Yield ETF

As requested by many, I decided to dedicate an article to my personal dividend growth portfolio, consisting of more than 90% of my net worth. I start by explaining my strategy and approach, followed by a discussion of the benefits that come with dividend (growth) investment strategies.

My 6-Figure Market-Beating Dividend Growth Portfolio

Public Storage has a terrible dividend scorecard, thanks to no dividend growth since 2016 and a subdued yield. PSA has also underperformed its peers over the past ten years. However, the company is everything except a pet rock. Aggressive investments in growth, high margins, and a healthy balance sheet provide the way for new dividend growth.

Why I'm Aggressively Buying Public Storage This Year

Just because a business isn't an exciting growth story doesn't mean it can't beat the market.

2 "Boring" Stocks That Have Handily Beaten the Market -- and Could Keep Doing It

Public Storage is one of the larger self-storage REITs out there, one with a solid long-term track record. I like the long-term promise of the business, yet fear that momentum has been too strong in recent years amidst an economic slowdown and reversal of pandemic-induced trends.

Public Storage: Still A Bit Rich To Provide Storage Of Wealth

GLENDALE, Calif.--( BUSINESS WIRE )--Public Storage (NYSE:PSA), the nation's leading owner, acquirer, developer, and operator of self-storage properties, announced today that Tom Boyle, the Company's Chief Financial Officer, has been appointed to also serve as its Chief Investment Officer, effective January 1, 2023. In addition to his role as Chief Financial Officer, Mr. Boyle's responsibilities as Chief Investment Officer will include development, redevelopment, acquisitions, asset management, and third-party management.

Tom Boyle, Public Storage Chief Financial Officer, to Also Serve as Chief Investment Officer

Gladstone Land

I invest 50% of my net worth in REITs. But not all REITs are worth buying.

Sell Alert: 2 REITs To Sell Before 2023

News for Public Storage Stock (PSA)