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Public Storage (PSA)
NYSE:PSA
Earnings Data
Report Date
Aug 05, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
2.55Last Year’s EPS
2.66Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 30, 2025
|% Change Since: 3.01%
|Next Earnings Date:Aug 05, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong performance in non-same-store revenue growth, digital transformation, and development activities, with a resilient industry backdrop. However, the impact of pricing restrictions in Los Angeles and declining move-in rates pose challenges. The overall sentiment is balanced, acknowledging both positive growth areas and notable challenges.Company Guidance
During the first quarter of 2025, Public Storage experienced positive performance, aligning with expectations, by successfully increasing move-in volumes by over 2%. This was achieved through enhanced online engagement and improved customer conversion rates. Notably, the same-store occupancy gap decreased from a deficit of 80 basis points at the end of December to a 30 basis point deficit by March 31. Revenue growth in the same-store pool turned positive after a period of deceleration, while the non-same-store pool, comprising 520 properties, accelerated its revenue growth to nearly 11%. The company's core Funds from Operations (FFO) per share grew by more than 2% quarter-over-quarter, improving by 200 basis points sequentially. Public Storage remains well-positioned due to its high-quality portfolio, innovative digital platform, and competitive advantages, which include an industry-leading revenue management system that achieves the highest revenues per square foot in their markets. The company is advancing its digital transformation, with 85% of customer interactions now digital, and has implemented an efficient operating model utilizing AI for staffing. Public Storage's development and acquisition activities have also been robust, with $144 million of development delivered during the quarter and a pipeline of about $650 million projected for the next two years. The company is pursuing international expansion, illustrated by its proposal to acquire Abacus Storage King, enhancing its growth avenues amid a resilient self-storage industry.Increased Move-Ins and Improved Occupancy
Move-in volumes increased over 2%, closing the same-store occupancy gap from down 80 basis points to down 30 basis points year-over-year.
Revenue Growth in Non-Same-Store Pool
Revenue growth in the non-same-store pool accelerated to nearly 11%, contributing significantly to overall growth.
Digital Transformation and Efficiency
85% of customer interactions are now digital, contributing to higher operating margins and efficiency.
Strong Development and Acquisition Activity
Delivered $144 million of development in the quarter with $650 million in the pipeline, and acquired or under contract for $184 million, ahead of last year's pace.
Core FFO Growth
Core Funds from Operations (FFO) per share grew by 2.2% year-over-year, representing a 200 basis point sequential improvement.
Resilient Industry with Growth Potential
Self-storage is resilient to economic changes with low nominal rents and demand drivers shifting favorably.
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PSA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PSA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2025 | $300.43 | $300.00 | -0.14% |
Feb 24, 2025 | $300.35 | $305.55 | +1.73% |
Oct 30, 2024 | $329.40 | $322.76 | -2.02% |
Jul 30, 2024 | $296.05 | $287.83 | -2.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Public Storage (PSA) report earnings?
Public Storage (PSA) is schdueled to report earning on Aug 05, 2025, TBA Not Confirmed.
What is Public Storage (PSA) earnings time?
Public Storage (PSA) earnings time is at Aug 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PSA EPS forecast?
PSA EPS forecast for the fiscal quarter 2025 (Q2) is 2.55.
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