Public Storage (PSA) stands as the REIT sector benchmark, boasting strong financials and investment-grade credit ratings. PSA's preferred stocks yield nearly 7%, trade below par, and reflect interest rate risk—not credit risk—amid Fed rate hikes. With net debt/EBITDA at 2.9x and an asset coverage ratio above 1080%, PSA's balance sheet remains robust.
Public Storage offers downside protection with a 4.05% yield, trading at a forward P/FFO of 17.5 and below its historical average. PSA's operational momentum is improving, with rising move-in rents, declining churn, and an inflection in same-store revenue growth guidance. Recent acquisitions provide significant lease-up and margin expansion opportunities, supporting multi-year synergy potential.
Public Storage (PSA) reported earnings 30 days ago. What's next for the stock?
Public Storage demonstrates robust FFO and FAD, ensuring strong coverage of both common and preferred dividends. PSA's recent acquisition of National Storage is expected to be FFO-accretive, supporting ongoing dividend coverage and growth. I favor PSA's Series N preferred stock, offering a 6.45% yield and significant upside potential if interest rates decline.
Public Storage NYSE: PSA said its second-quarter operating trends improved and raised its 2026 guidance, while highlighting the completed acquisition of National Storage Affiliates and a planned entry into Canada through the acquisition of Public Storage Canada.
Public Storage (PSA) Q2 2026 Earnings Call Transcript
PSA lags Q2 core FFO estimates, but higher revenues, acquisitions and a stronger 2026 outlook highlight how expansion is helping offset same-store pressure.
The headline numbers for Public Storage (PSA) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Public Storage (PSA) came out with quarterly funds from operations (FFO) of $4.17 per share, missing the Zacks Consensus Estimate of $4.25 per share. This compares to FFO of $4.28 per share a year ago.
Evaluate the expected performance of Public Storage (PSA) for the quarter ended June 2026, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Public Storage demonstrates sector-leading scale, strong margins, and a fortress A-rated balance sheet in the self-storage REIT space. Recent results show stabilizing fundamentals: improved occupancy, lower churn, and better-than-expected move-in rents, supporting same-store NOI amidst normalization. The pending National Storage Affiliates acquisition is set to deepen Sunbelt exposure, deliver $120M in cost synergies, and drive 2–3% FFO/share accretion by year 3.
PSA expands flexibility with a $3B revolver, a $500M term loan and a $1B commercial paper program, lowering borrowing costs.