Public Storage reports news on its self-storage REIT operations, dividend actions, operating results, and capital allocation initiatives. The company primarily acquires, develops, owns, and operates self-storage facilities across the United States and holds a common equity interest in Shurgard Self Storage, which operates facilities in Western Europe under the Shurgard brand.
Recurring developments include quarterly common and preferred share dividends, earnings releases and conference calls, capital-structure updates, governance and leadership matters, and initiatives tied to operating analytics, revenue management, customer behavior modeling, demand forecasting, and the company’s PS4.0 strategy.
Public Storage (NYSE: PSA) declared a regular quarterly common dividend of $3.00 per share through its Board of Trustees. The common dividend is payable on January 8, 2027, to shareholders of record on December 15, 2026. The Board also declared dividends on its various preferred share series, payable on December 30, 2026, with the same record date.
Public Storage (PSA) priced a public offering of $500 million in fixed-rate senior notes to be issued by Public Storage Operating Company.
The company-guaranteed notes mature November 15, 2036, carry a 5.600% annual coupon and are priced at 98.293% of par. Prior interest rate swaps bring the effective interest rate to 5.200%. Interest is payable semi-annually beginning May 15, 2027.
Closing is expected November 6, 2026. The company expects to use net proceeds to repay commercial paper borrowings and partially repay at maturity PSOC’s outstanding $650 million of 1.500% senior notes due 2026.
Public Storage (PSA) raised its 2026 outlook after reporting third-quarter Core funds from operations, a non-GAAP earnings measure, of $4.34 per share. Core FFO rose 0.7% year over year, while net income per share fell 35.5% to $1.69. Full-year Core FFO guidance increased to $16.90–$17.10 from $16.75–$17.05. Same-store revenue and net operating income each rose 0.5%; average occupancy reached 92.2%.
The company completed the all-stock National Storage Affiliates acquisition on July 22 and the US $1.2 billion Public Storage Canada acquisition, including assumed debt, on September 1. Public Storage expects approximately $110 million–$130 million in run-rate NSA synergies within three to four years. Debt totaled $12.2 billion, with $650 million maturing in the fourth quarter. Approximately $4.1 billion of liquidity includes cash, undrawn credit capacity and expected retained cash flow over the next twelve months.
Public Storage (NYSE:PSA) plans to release its third-quarter 2026 earnings results after the market close on October 26, 2026.
Management will review the results during a conference call on October 27, 2026, at 11:00 a.m. CT and may discuss material business or financial information not included in the earnings release. A replay will be accessible through November 10, 2026.
Public Storage (PSA) priced a public offering of C$400 million fixed-rate senior notes due 2033 in its inaugural Canadian-market issuance.
The notes, issued by PS Canada Finance ULC and guaranteed by Public Storage and Public Storage Operating Company, will bear annual interest of 4.540%, be issued at par, and mature on September 16, 2033. Interest will be paid semi-annually on March 16 and September 16, starting March 16, 2027. The offering is expected to close on September 16, 2026, subject to customary conditions. Net proceeds are expected to replenish cash used for the Public Storage Canada acquisition and fund general corporate purposes, including self-storage investments, debt repayment, and redemption of outstanding securities. Scotiabank and TD Securities are joint book-running managers.
American Healthcare REIT (AHR) appointed Aric Chang as Chief Financial Officer, effective October 1, 2026, succeeding Brian Peay, who will retire after serving as CFO for 10 years on September 30, 2026.
Chang joins from Public Storage (PSA), where he serves as Chief Financial Officer, Real Estate, overseeing real estate and corporate finance, FP&A, investment underwriting and real estate data analytics, and approximately $16 billion of capital deployment across acquisitions, development, lending and mergers and acquisitions. His background spans senior roles at NYSE-listed REITs, J.P. Morgan Asset Management’s real estate platform and REIT research firms. He will lead AHR’s finance organization alongside existing senior leaders, with the company emphasizing his role in capital allocation, capital markets strategy and supporting future growth.
Public Storage (NYSE: PSA) has completed its acquisition of Public Storage Canada for approximately $1.2 billion in total closing consideration. The price includes about $900 million in Public Storage OP units (2.76 million units at $321.98) and roughly $310 million in cash, subject to customary adjustments. Sellers may receive up to an additional $288 million in OP units priced at $375 per unit, tied to future NOI targets.
Public Storage now directly owns a Canadian portfolio of 5.3 million net rentable square feet across 68 properties in Toronto, Vancouver, Montreal, Calgary, and Ottawa, which has long operated under the Public Storage brand. The company expects the deal to be accretive to long-term IRR, NOI growth, and FFO per share and targets high single-digit near-term NOI growth from a high-5% initial yield by applying its PS Next operating model.
Public Storage (NYSE: PSA) declared a regular third-quarter 2026 common dividend of $3.00 per share, along with dividends on its various preferred share series. Common dividends are payable on October 6, 2026 and preferred dividends on September 30, 2026, to shareholders of record on September 15, 2026.
According to Public Storage, as of June 30, 2026 it owned and/or operated 3,584 U.S. self-storage facilities with about 259 million net rentable square feet and held a 35% equity interest in Shurgard Self Storage. On July 22, 2026, it completed the acquisition of National Storage Affiliates Trust, increasing its portfolio to 4,647 facilities and 329 million net rentable square feet across 41 states and Puerto Rico.
Public Storage (NYSE: PSA) reported second quarter 2026 net income of $2.55 per share, up 44.9% year over year, while Core FFO per share declined 2.6% to $4.17. Same-store revenues decreased 0.6% and net operating income fell 2.2%, with direct operating costs up 4.3%.
According to Public Storage, non-same-store revenues and NOI grew 25.6% and 21.5% in the quarter. The company raised 2026 guidance, now projecting Core FFO per share of $16.75–$17.05 versus prior $16.35–$17.00, and narrower declines in same-store NOI.
Strategic moves include closing the all-stock NSA merger on July 22, 2026, forming a $3.3 billion joint venture, and agreeing to acquire Public Storage Canada for US$1.2 billion (68 properties, 5.3 million square feet). The company also acquired 20 U.S. facilities for $222.5 million and expanded liquidity with a new $3.0 billion revolver, a $500 million term loan, a $1.0 billion commercial paper program, and $1.4 billion in senior note offerings.
Public Storage (NYSE: PSA) has closed its acquisition of National Storage Affiliates Trust, expanding its platform to over 4,500 properties and 327 million rentable square feet across the U.S., with additional exposure through Shurgard in Europe and an announced entry into Canada.
NSA shareholders received 0.14 Public Storage common share for each NSA share. The deal adds more than 1,000 properties, 550,000 units, and over 500,000 customers, whose brands will transition to the Public Storage name. The company continues to expect the transaction to be accretive to FFO per share within the first year, with accretion of about $0.35–$0.50 per share upon achieving $110–$130 million in run-rate synergies over three to four years.
A new joint venture of 313 properties across 28 states and Puerto Rico was formed with legacy NSA limited partners owning about 80% and Public Storage holding the rest. The JV secured roughly $2 billion in mortgage financing and $237 million in mezzanine financing from Public Storage, which will exclusively manage the portfolio.