Public Storage tops quarterly FFO estimates on better occupancy, move‑in rates

Public Storage

27/04/2026 23:17

April 27 (Reuters) - Real estate investment trust Public Storage PSA.N reported first-quarter core funds from operations (FFO) above Wall Street estimates on Monday, helped by better-than-expected occupancy and move-in rates.

Public Storage's quarterly core FFO came in at $4.22 per share, above analysts' average estimate of $4.12 apiece, according to data compiled by LSEG.

The Glendale, California-based company said while occupancy and move-in rates were ahead of expectations, its integrated operating platform also helped it mitigate inflationary pressures on cost of operations and maintain margins.

The world’s largest owner of self‑storage facilities reaffirmed its annual core FFO per share forecast of $16.35 to $17.

The company reported first-quarter revenue of $1.22 billion, above analysts' average estimate of $1.21 billion.

Public Storage's shares were marginally up in after-hours trading.

Last month, Public Storage said it would acquire smaller rival National Storage AffiliatesNSA.N in an all-stock deal valued at about $10.5 billion, including debt.

(Reporting by Megha Kumari in Bengaluru; Editing by Jonathan Ananda)

((Megha.Kumari@thomsonreuters.com))