Reports Q2 revenue $1.12B, consensus $1.12B. “Public Storage’s industry-leading platform was evident during the second quarter, with record customer move-in volume growth of 13.6%, stabilized same store NOI growth of 6.6%, and non-same store lease-up NOI growth of 20%. These factors led to an increase in our outlook for the back half of the year,” said Joe Russell, President and Chief Executive Officer. “We continue to invest in the industry’s leading digital platform and our operating model, while enhancing and growing our portfolio. As evidenced by our recent $2.2 billion Simply Self Storage acquisition, we remain uniquely positioned to deliver growth and value to our stakeholders.”
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Read More on PSA:
- Truist positive on Public Storage acquisition of Simply Self Storage
- Public Storage Snaps Up Simply Self Storage for $2.2B
- Public Storage to acquire Simply Self Storage BREIT for $2.2B
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- Public Storage price target lowered to $324 from $338 at JPMorgan