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 (NYSE: PSA) is an S&P 500 real estate investment trust that primarily acquires, develops, owns, and operates self-storage facilities. The PSA news feed on Stock Titan aggregates company press releases and other coverage so readers can follow how its self-storage portfolio, capital structure, and operating metrics evolve over time.
News about Public Storage often centers on quarterly and year-to-date operating results, including net income, Funds from Operations (FFO), Core FFO, and detailed Same Store and Non-Same Store performance. The company regularly reports on occupancy levels, annual contract rent per occupied square foot, and net operating income margins for its stabilized Same Store Facilities, as well as contributions from newly acquired and developed properties.
Another key category of PSA news involves acquisitions and development activity. Public Storage discloses when it acquires or enters contracts to acquire self-storage facilities, including the number of properties, net rentable square footage, and aggregate investment amounts. Updates also cover development and expansion projects that add new rentable space to its U.S. portfolio.
Investors can also follow capital markets and financing announcements, such as public offerings of unsecured senior notes by Public Storage Operating Company, guaranteed by Public Storage, and related 8-K filings that describe terms, interest rates, maturities, and intended use of proceeds. Dividend declarations for common and preferred shares, as well as information on the tax treatment of annual distributions, are another recurring news theme.
For those tracking the broader self-storage sector, PSA news may also include information about its 35% equity interest in Shurgard Self Storage Limited in Western Europe and updates from investor presentations. Bookmark this page to monitor the latest official communications and performance updates from Public Storage.
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.
Public Storage (NYSE:PSA) announced the redemption of its 2.370% Senior Notes, due September 15, 2022, on August 15, 2022. The total outstanding principal of these Notes is $500 million, and holders will receive 100% of the principal plus accrued interest. A redemption notice will be sent to record holders on July 27, 2022. Public Storage, a leading real estate investment trust, operates 2,797 self-storage facilities across the U.S. and holds a 35% equity interest in Shurgard Self-Storage SA in Europe.
Public Storage (NYSE:PSA) has declared a one-time dividend of $13.15 per common share, payable on August 4, 2022, to shareholders on record by August 1, 2022. This dividend comes from a projected $2.3 billion tax gain related to the acquisition of PS Business Parks, Inc. (NYSE:PSB) by Blackstone Real Estate, completed on July 20, 2022. Public Storage received $187.50 in cash per share for its 41% stake in PSB, aimed at fulfilling REIT distribution requirements for 2022 taxable income. A guidance update regarding the transaction is expected on August 4, 2022.
Public Storage (NYSE:PSA) will release its second quarter 2022 earnings results on August 4, 2022, after market close. A conference call to discuss these results is scheduled for August 5, 2022, at 9:00 a.m. PDT. Investors can join the call using the domestic dial-in number (866) 342-8591 or the international number (203) 518-9713, referencing Conference ID PSAQ222. The earnings call will also be available via a webcast at PublicStorage.com, under Investor Relations.
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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.