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

Equinix

Realty Income Corp

Real estate investment trusts (REITs) are among the core options for income-based investing. I would go as far as arguing that REITs don't even have to be located in tax-efficient accounts, as their dividend yields are so substantial that taxes don't erode their compounding potential.

Real Estate Gold: 3 REIT Stocks With Income Potential

We're focusing on buying fixed rate preferred securities in anticipation of lower interest rates. Public Storage's Q3 results include just a few days of consolidation of Simply Self Storage and positive delta on interest income. The Series H preferred shares of Public Storage are trading at a discount and offer a reliable preferred dividend yield.

Public Storage: The Preferred Dividends Are Well Covered

Diageo

Kimberly-Clark

The stock market has entered a correction. The S&P 500 has slipped 10% from its prior highs, falling back to levels last seen in May.

Top 3 Stocks to Buy in a Recession: November Edition

Public Storage (NYSE:PSA ) Q3 2023 Earnings Conference Call October 31, 2023 12:00 PM ET Company Participants Ryan Burke - Vice President, Investor Relations Joe Russell - President and Chief Executive Officer Tom Boyle - Senior Vice President, Chief Financial Officer, and Chief Investment Officer Conference Call Participants Michael Goldsmith - UBS Steve Sakwa - Evercore ISI Spenser Allaway - Green Street Advisors Juan Sanabria - BMO Capital Markets Jeff Spector - Bank of America Todd Thomas - KeyBanc Capital Markets Smedes Rose - Citi Eric Luebchow - Wells Fargo Keegan Carl - Wolfe Research Ron Kamdem - Morgan Stanley Caitlin Burrows - Goldman Sachs Ki Bin Kim - Truist Securities Mike Mueller - JPMorgan Operator Greetings and welcome to the Public Storage Third Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

Public Storage (PSA) Q3 2023 Earnings Call Transcript

Public Storage's (PSA) Q3 results reflect an improvement in the realized annual rent per available square foot. The company has also raised its outlook for 2023.

Public Storage (PSA) Q3 FFO Beats Estimates, View Raised

The headline numbers for Public Storage (PSA) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Public Storage (PSA) Reports Q3 Earnings: What Key Metrics Have to Say

Public Storage (PSA) came out with quarterly funds from operations (FFO) of $4.33 per share, beating the Zacks Consensus Estimate of $4.21 per share. This compares to FFO of $4.13 per share a year ago.

Public Storage (PSA) Tops Q3 FFO and Revenue Estimates

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today operating results for the three and nine months ended September 30, 2023. “Public Storage's industry-leading platform drove higher move-in volumes, improved occupancy, and better-than-expected NOI growth in our stabilized and lease-up portfolios during the third quarter. Collectively, this propelled a third consecutive increase to our outlook for 2023 within a competitive customer move-in environment across the self-st.

Public Storage Reports Results for the Three and Nine Months Ended September 30, 2023

Public Storage's (PSA) Q3 results are likely to reflect gains from high brand value and the company's solid presence in key cities, though a likely rise in vacating volumes remains a concern.

What's in Store for Public Storage (PSA) in Q3 Earnings?

American Tower

W. P. Carey

As geopolitical and broad market instabilities heat up, we've seen a flight to safety of risk-free assets. The REIT sector has been one of the worst-performing sectors within the S&P 500 in 2023, with higher rates playing a significant role.

3 REITs to Sell in October Before They Crash and Burn

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA), the world's leading owner of self-storage facilities, announced today that the Company is the U.S. self-storage sustainability leader on the 2023 GRESB Real Estate Benchmark, one of the world's leading ESG benchmarks and reporting frameworks. Public Storage ranks highest amongst its U.S. peer group for sustainability, was named a best-performing Regional Sector Leader, and was awarded an “A” rating for public disclosure in 2023. In a.

Public Storage Recognized as the U.S. Self-Storage Sustainability Leader on the GRESB Benchmark

PepsiCo

The stock market is facing multiple challenges, including sticky inflation, elevated rates, weakening economic growth, and geopolitical problems. The Consumer Price Index exceeded expectations in September, indicating stronger price growth.

Flight To Quality Is A Must

Public Storage is a high-quality self-storage REIT with a strong balance sheet and impressive NOI growth. It benefits from an economy of scale and carries inherent advantages in its ability to source properties and find lease-up opportunities. PSA offers an attractive 4.4% dividend yield and is trading at a solid value, making it a good option for investors seeking yield and growth potential.

Public Storage: Why Buy Treasuries When You Can Buy This Stock

Healthcare Realty Trust Inc

REITs have underperformed the overall stock market this year. I screened all 34 stocks listed in Value Line's Investment Survey REIT section with revenue over $500 million, a large chart is included. Each was given a weighted score for FFO growth, leverage, valuation, yield, industry strength, and resistance to a recession.

Sorting Through The REIT Wreckage: Public Storage, Healthcare Realty And 32 Others

Healthpeak Properties

Park Hotels & Resorts

Prologis

Ventas

Well, you don't have to conjure up some investment that doesn't exist. Real estate investment trusts, often called REITs,  are mandated to distribute profits to shareholders to maintain their special tax status.

Analysts See Strong Upside Trade for Undervalued REITs

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today it intends to release its third quarter 2023 earnings results after the market close on Monday, October 30, 2023. A conference call is scheduled for Tuesday, October 31, 2023, at 9:00 a.m. (PT) to discuss these results.   Live conference call   Domestic dial-in number: (877) 407-9039   International dial-in number: (201) 689-8470   Webcast: Event Calendar         Conference call replay   Domestic dial-in number: (844).

Public Storage to Release Third Quarter 2023 Earnings Results and Host Quarterly Conference Call

Bristol-Myers

Duke Energy

Gilead Sciences

Verizon

The risk to the market is mounting, and with it, volatility. The VIX is up nearly 50% in the last month and heading higher, which means the S&P 500 could be heading lower.

5 Low Beta, High-Yield Stocks for Your Low-Risk Income Portfolio

Agree Realty

Alexandria Real Estate Equities

Crown Castle International

Extra Space Storage

iShares U.S. Real Estate ETF

Rexford Industrial Realty

Vanguard Real Estate ETF

Consumer Staples Select Sector SPDR Fund

Real Estate Select Sector SPDR Fund

Utilities Select Sector SPDR Fund

REITs have dropped by about 30% since early 2022, much more than other defensive, debt-utilizing sectors like utilities and consumer staples. Interest rates are unlikely to increase significantly further from here, while REIT fundamentals remain strong, aside from the notable exception of office buildings. I highlight 6 of my favorite blue-chip REITs with investment-grade credit ratings, low-leveraged balance sheets, and strong long-term growth prospects.

REIT Crash: The More They Drop, The More I Buy

ONEOK

Southern Company

The Southern Company delivered dividend stability and growth for over three-quarters of a century. Oneok has provided dividend stability for more than 25 years.

3 Elite Dividend Stocks to Buy and Hold for Decades of Income Stability and Growth

Strategic acquisitions, high brand value and a strong balance sheet are likely to support Public Storage (PSA). However, a rise in move-out rates and elevated interest rates remain headwinds.

Expansion Efforts to Aid Public Storage (PSA) Amid High Rates

Redefining the self-storage landscape and leveraging its brand for exponential growth, Public Storage (PSA) completes the $2.2 billion Simply Self Storage acquisition.

Public Storage (PSA) Concludes $2.2B Simply Self Storage Buyout

Manulife Financial

If you're a cautious investor, you may be concerned about a market correction. An alternative is to consider high-yield stocks to buy.

The 3 Most Undervalued High-Yield Stocks to Buy in September 2023

GLENDALE, Calif. & NEW YORK--(BUSINESS WIRE)--Public Storage (NYSE:PSA) (the “Company”) announced today that it has completed the previously announced acquisition of Simply Self Storage (“Simply”) from Blackstone Real Estate Income Trust, Inc. (“BREIT”) for $2.2 billion. The portfolio comprises 127 wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states and located in markets with population growth that has been approximately double th.

Public Storage Announces Closing of Simply Self Storage Acquisition

Federal Realty Investment Trust

Loneliness has negative effects on physical and emotional health outcomes and overall wellbeing. Our desire for companionship is natural and built into our biology. Seeking validation through brand names and peer approval can lead to short-term satisfaction but may not be sustainable in the long run.

I'm Still Betting On The Tortoise: REIT Quality Wins The Race

REITs are reviled and shunned by the market, having lost ~30% of their value since the beginning of 2022. Higher interest rates along with negative sentiment from office properties' particular troubles have created a perfect storm for public real estate stocks. But historically, REITs have outperformed every other stock sector in the years after a drawdown this severe.

News for Public Storage Stock (PSA)