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.
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Public Storage (NYSE:PSA) has earned the prestigious Great Place to Work Certification™ for 2022, reflecting positive employee sentiments regarding workplace culture. This certification, recognized globally, indicates that employees feel valued and supported within the company. Job seekers at certified workplaces are reported to find better leadership and fair compensation opportunities. Public Storage operates 2,797 self-storage facilities across 39 states, with a significant equity interest in Shurgard Self-Storage and PS Business Parks. The company's commitment to employee experience is highlighted by leadership statements emphasizing a people-centered culture.
Public Storage (NYSE:PSA) will present virtually at REITweek 2022 on June 8, 2022, from 9:30 a.m. to 10:00 a.m. ET. The event will be accessible to registered participants via a complimentary registration on Nareit’s website. As of March 31, 2022, Public Storage operates 2,797 self-storage facilities across 39 states, totaling approximately 199 million net rentable square feet. The company also holds substantial equity interests in Shurgard Self-Storage SA and PS Business Parks, Inc., reflecting its diverse operations in the self-storage and commercial real estate sectors.
Public Storage (NYSE: PSA) reported robust operating results for Q1 2022, with net income of $464.1 million, equating to $2.63 per diluted share, a 19.2% increase from Q1 2021. Core FFO rose 29.4% to $3.65 per diluted share. Same Store direct net operating income grew by 19.3%, driven by a 15.8% rise in revenues. The company acquired 10 facilities for $127.7 million and plans further acquisitions. Additionally, a merger with PS Business Parks, Inc. (PSB) is expected to yield significant cash proceeds and tax gains. A dividend of $2.00 per share was also declared.
Public Storage (NYSE:PSA) announced updates concerning the acquisition of PS Business Parks (NYSE:PSB) by Blackstone affiliates. Upon completion, PSA will receive $187.50 in cash per PSB share, totaling approximately $2.7 billion in cash proceeds. The company anticipates a $2.3 billion tax gain on sale, which it intends to distribute to shareholders. However, PSA’s annual Core Funds from Operations may decline by around $101 million post-transaction, reflecting a reduction of about 4% of its total Core FFO for 2021.
Public Storage (NYSE:PSA) will release its first quarter 2022 earnings results after market close on May 3, 2022. A conference call to discuss these results is scheduled for May 4, 2022, at 9:00 a.m. PDT. Investors can access the live call at PublicStorage.com or by dialing in at (888) 632-3382 domestically and (785) 424-1250 internationally. The replay will be available from May 11, 2022, by calling (800) 938-1594 domestically.
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Public Storage (NYSE:PSA) announced its participation in the Citi 2022 Global Property CEO Conference on March 8, 2022, at The Diplomat Resort & Spa in Hollywood, Florida. The discussion will commence at 9:00 a.m. EST, and a webcast of the presentation will be accessible on Public Storage's website under 'Investor Relations'. As of December 31, 2021, Public Storage operated 2,787 facilities across 39 states, totaling approximately 198 million rentable square feet, alongside significant equity interests in Shurgard Self-Storage SA and PS Business Parks, Inc. (NYSE:PSB).
Public Storage (NYSE: PSA) reported strong results for Q4 and the full year 2021, highlighting significant portfolio growth and record financial performance. For Q4, net income was $3.17 per diluted share, a 90% increase year-over-year. Core FFO rose to $3.54 per diluted share, up 20.8%. For the full year, net income was $9.87 per diluted share and Core FFO reached $12.93, increasing by 21.9%. The company acquired 106 facilities for $2.3 billion and opened six new facilities. Looking ahead, Public Storage expects Core FFO per share for 2022 to range from $14.75 to $15.65, emphasizing strong growth potential.
Public Storage (NYSE:PSA) will announce its fourth quarter 2021 earnings on February 22, 2022, after market close. A conference call to discuss the results is scheduled for February 23, 2022, at 9:00 a.m. PST. The call can be accessed domestically at (800) 891-3840 and internationally at (785) 424-1249, using conference ID PSAQ421. Investors can also join via a live audio webcast on the company's website. Public Storage operates over 2,678 self-storage facilities across the U.S. and has significant equity interests in Shurgard Self Storage and PS Business Parks.