Summary
PUP Chart
Public Storage (PSA) Q1 2026 Earnings Call Transcript
Public Storage (PSA) Q1 2026 Earnings Call Transcript
Public Storage's Q1 FFO Beats Estimates on Non-Same-Store Growth
PSA beats Q1 core FFO and revenue estimates as non-same-store growth jumps and its $10.5B National Storage Affiliates deal nears.
Public Storage: National Storage Deal Adds Upside, But Iran Risks Keep It A Hold
Public Storage is rated Hold, reflecting balanced risk-reward as macro headwinds and Iran-driven risks weigh on near-term valuation. PSA maintains strong financials and is acquiring National Storage in a $10.5B all-stock deal to drive long-term synergies. Guidance anticipates flat to slightly negative Core FFO and NOI in 2026, with higher interest expenses and ongoing macroeconomic pressures impacting near-term results.
Public Storage Common Stock (PUP) FAQ
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Public Storage Common Stock Profile
| Industrial REITs Industry | Real Estate Sector | H. Thomas Boyle CEO | XDUS Exchange | US74460D1090 ISIN |
| US Country | 5,900 Employees | 30 Jun 2026 Last Dividend | - Last Split | 18 Nov 1980 IPO Date |
Overview
Public Storage stands as a leading entity in the self-storage sector, marking its presence both in the United States and internationally. As a significant player in the real estate investment trust (REIT) market, Public Storage has cemented its position by being a part of prestigious indexes such as the S&P 500 and FT Global 500. The company's strategic focus on acquiring, developing, owning, and operating self-storage facilities has resulted in a vast network. By the end of December 31, 2023, Public Storage's extensive portfolio included interests in 3,044 self-storage facilities across 40 states in the United States, encompassing approximately 218 million net rentable square feet. Additionally, its international presence is bolstered through a 35% common equity interest in Shurgard Self Storage Limited, a notable player in the European market. Shurgard operates 275 self-storage facilities across seven Western European countries, with around 15 million net rentable square feet under its brand. Public Storage's headquarters, strategically located in Glendale, California, serves as the central hub for its expansive operations.
Products and Services
- Self-storage Facilities in the United States
Public Storage owns and operates a vast array of self-storage facilities across 40 states in the United States, with a collective reach of approximately 218 million net rentable square feet. This extensive network ensures a wide range of storage solutions for personal, business, and vehicle needs, catering to a diverse customer base seeking secure and accessible storage options.
- Equity Interest in Shurgard Self Storage Limited
Through its 35% common equity interest in Shurgard Self Storage Limited, Public Storage extends its footprint into the European self-storage market. Shurgard, listed on Euronext Brussels (SHUR), owns and operates 275 self-storage facilities across seven Western European nations. This strategic investment allows Public Storage to offer approximately 15 million net rentable square feet of storage space in Europe, operated under the reputed Shurgard brand, thus providing a seamless storage experience for customers in both the US and European markets.
