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 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
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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.
Public Storage (NYSE:PSA) announced the tax treatment of its 2021 dividends. For the year ending
Public Storage (NYSE:PSA) announced a public offering of 10 million depositary shares priced at $25.00 each, equating to gross proceeds of $250 million. Each depositary share represents a 4.100% Cumulative Preferred Share of Beneficial Interest, Series S. The offering is expected to close around January 13, 2022. Proceeds will support general corporate purposes, including acquisitions of self-storage facilities and redemptions of preferred shares. Joint book-running managers include BofA Securities, Morgan Stanley, UBS, and Wells Fargo.