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.
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Public Storage (NYSE:PSA) is scheduled to release its Q1 2023 earnings after market close on May 3, 2023, followed by a conference call on May 4, 2023, at 9:00 a.m. (PT). The company, part of the S&P 500 and FT Global 500, operates 2,869 self-storage facilities in the U.S., totaling approximately 204 million net rentable square feet. Additionally, it holds a 35% equity interest in Shurgard Self Storage Limited, with 266 facilities across seven Western European countries, encompassing around 15 million net rentable square feet. Stakeholders can participate in the conference call via a domestic dial-in number at (800) 225-9448 or an international number at (203) 518-9708. Full details are available on PublicStorage.com.
Public Storage (NYSE: PSA) reported strong financial results for the fourth quarter and year ending December 31, 2022. The company achieved a net income of $362.6 million, or $2.06 per diluted share, alongside a core FFO of $4.16 per diluted share, up 17.5% from the same period in 2021. 2022 saw a net income of $4.14 billion ($23.50 per share) and a core FFO of $15.92 per share, a 23.1% increase year-over-year. Public Storage acquired 74 facilities for $730.5 million in 2022 and plans significant development projects totaling almost $1 billion. The company announced a dividend increase from $2.00 to $3.00 per share, payable on March 30, 2023.
Public Storage (NYSE: PSA) has proposed to acquire Life Storage, Inc. (NYSE: LSI) in an all-stock transaction, offering an exchange ratio of 0.4192 shares of Public Storage for each Life Storage share. This proposal represents a 19% premium based on the 20-day trailing volume-weighted average prices (VWAP) as of February 3, 2023. The company emphasizes the benefits of enhanced growth and profitability for Life Storage shareholders, leveraging Public Storage's operational efficiencies and strong balance sheet. Public Storage's Board of Trustees has unanimously approved the proposal, urging Life Storage’s board to engage in discussions regarding the transaction.