Public Storage Stock Price, News & Analysis

Public Storage (NYSE:PSA) reported results for the three and six months ended June 30, 2024. Net income for Q2 was $2.66 per diluted share, down from $3.00 in Q2 2023. Core FFO was $4.23 per share. Key highlights include: a $200 million share repurchase, acquisition of two self-storage facilities for $22 million, and issuance of €150 million in senior notes. The company also completed a $1 billion public offering of senior notes. Despite challenges with customer move-in rents due to industry competition, the company remains confident, reflecting this through their share repurchase program.

For the six months, net income was $5.26 per share, down from $5.65 in the same period in 2023. Depreciation and interest expenses increased, partially offset by higher foreign currency gains and improved net operating income from Non-Same Store facilities. The company remains optimistic about the future, adjusting its outlook to account for market dynamics.

Public Storage (NYSE:PSA), a leading REIT and member of the S&P 500 and FT Global 500, has announced the release of its second quarter 2024 earnings results after market close on July 30, 2024. A conference call is scheduled for July 31, 2024, at 9:00 a.m. (PT) to discuss these results. The company will provide both domestic and international dial-in numbers for the live call and replay, as well as a webcast option. As of March 31, 2024, Public Storage had interests in 3,045 self-storage facilities across 40 U.S. states, totaling approximately 218 million net rentable square feet. Additionally, the company holds a 35% common equity interest in Shurgard Self Storage , which operates 279 facilities in seven Western European nations.

Public Storage (NYSE: PSA) has released its 2024 Sustainability Report, highlighting key achievements and future goals. The company aims to reduce scope 1 and scope 2 greenhouse gas emissions by 45% by 2032, compared to 2022 levels. It plans to more than double its solar-powered properties to 1,300 by 2025 and expand community solar programs to over 160 properties, targeting low and moderate-income households. Public Storage has been recognized as a 'Leader in the Light' by Nareit for its exceptional sustainability practices and has earned a Great Place to Work Certification™ for the second consecutive year. The company also continues to engage in community giving programs and leadership development initiatives. CEO Joe Russell emphasized the role of their 6,200 team members in driving innovation and sustainability. The full report is available on the company's website.

Public Storage (NYSE:PSA) declared a regular quarterly common dividend of $3.00 per share and dividends for preferred shares, payable on June 27, 2024. They operate self-storage facilities in the US and have a common equity interest in Shurgard Self Storage in Western Europe.

Public Storage reported operating results for the three months ended March 31, 2024, showing a decrease in net income due to increased depreciation and interest expenses. However, there was an increase in self-storage net operating income. The company opened new facilities and completed expansion projects, with plans for further development. Public Storage also issued senior notes and completed a public offering. FFO and Core FFO per share increased from the same period in 2023. The company provided guidance for the full year 2024.