Welcome to our dedicated page for Public Storage news (Ticker: PSA), a resource for investors and traders seeking the latest updates and insights on Public Storage stock.
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) has announced the tax treatment of 2022 dividends, providing essential information for shareholders. For the year ending December 31, 2022, ordinary dividends were classified as follows: 29.6070% for Q1 and Q2, 39.6574% for Q3, and 0.0000% for Q4. Additionally, capital gain distributions were 70.3930% for Q1 and Q2, 60.3426% for Q3, and 100.0000% for Q4. Notably, ordinary dividends do not qualify as “qualified dividend income.” Shareholders are advised to consult tax advisors for clarity. This preliminary report is subject to adjustments based on final tax filings.
Public Storage (NYSE:PSA) announced that Tom Boyle will serve as both Chief Financial Officer and Chief Investment Officer, effective January 1, 2023. This dual role involves overseeing development, acquisitions, and asset management. President Joe Russell expressed confidence in Boyle's leadership, noting his critical contributions to the company's capital structure and growth strategies. As of September 30, 2022, Public Storage reported interests in 2,836 facilities across 40 states and a significant investment in Shurgard Self-Storage in Europe.
Public Storage (NYSE:PSA) announced the reopening of a revamped facility in Cupertino, California, near Apple, Inc.'s offices. The new facility features two five-level buildings expanding from 51,000 to 195,000 square feet, boasting 2,593 climate-controlled units. Noteworthy enhancements include app-enabled digital access, energy-efficient solar panels, and LEED Silver® certification. The company’s development pipeline exceeds $1 billion, with over $500 million allocated to redevelopment projects. CEO Joe Russell highlighted the competitive advantage of redeveloping properties.
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Public Storage (NYSE:PSA) reported strong operating results for the three and nine months ending September 30, 2022, showing significant growth driven by acquisitions and increased revenues. For Q3 2022, net income per share surged to $15.38, a dramatic increase from $2.52 in 2021. Core FFO rose by 20.8% to $4.13 per diluted share. The company is well-positioned with over 50 million square feet in acquisitions, development, and redevelopment, accounting for 25% of its portfolio. A notable one-time dividend of $13.15 per share was distributed following a successful equity investment sale in PS Business Park.
Public Storage (NYSE:PSA) will release its Q3 2022 earnings on November 1, 2022, post-market close, followed by a conference call on November 2, 2022, at 9:00 a.m. PDT. Investors can access the live call through domestic dial-in at (800) 343-4849 or international at (203) 518-9848, using conference ID PSAQ322. A replay will be available starting November 9, 2022. Public Storage operates 2,807 self-storage facilities across 39 states and holds a 35% stake in Shurgard Self-Storage SA.
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AECOM (NYSE: ACM) has appointed Kristy Pipes to its Board of Directors, effective October 1, 2022. Ms. Pipes brings extensive financial and management experience, previously serving as Managing Director and CFO at Deloitte Consulting. She currently holds directorships at Public Storage (NYSE: PSA) and ExlService Holdings (NASDAQ: EXLS). Douglas Stotlar, AECOM’s chairman, highlighted her expertise in professional services as a key asset in advancing the company's strategy focused on infrastructure and sustainability.
Public Storage (NYSE:PSA) will join a roundtable at Bank of America's 2022 Global Real Estate Conference on September 13, 2022, starting at 4:25 p.m. (EDT), in New York City. This event can be streamed live on the company’s website. As of June 30, 2022, Public Storage operates 2,807 self-storage facilities across 39 states, totaling around 200 million net rentable square feet. The company also holds a 35% stake in Shurgard Self-Storage SA, which operates 256 facilities in Europe.
Public Storage (NYSE: PSA) reported strong operating results for the quarter ending June 30, 2022, with net income of $603.4 million, translating to $3.42 per diluted share, a significant increase from $346.2 million in 2021. Core FFO rose to $3.99 per diluted share, a 26.7% year-over-year increase. Same Store revenues grew 15.9%, boosting direct net operating income by 17.8%. The company acquired ten facilities for $123.6 million and announced further acquisitions totaling 1.7 million net rentable square feet for $257.4 million. Their outlook for 2022 projects Core FFO per share between $15.00 and $15.70.