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Operating Expense Breakdown
Details core costs like maintenance and administration, offering insight into operational efficiency and cost management.Depreciation has risen sharply and persistently as Public Storage scales via acquisitions and development (including the NSA transaction), making non‑cash D&A a growing drag on margins; cash operating lines (self‑storage and ancillary costs) are also climbing with the portfolio, even as G&A shows variability. Management’s Q1 expense discipline (PSNext efficiencies and a ~$3M tax timing benefit) helped near term, but investors should watch whether NSA synergies and occupancy gains offset higher D&A and midyear revenue pressure.
Date | General and Administrative | Depreciation and Amortization | Self Storage Operating Costs | Ancillary Operating Costs |
|---|---|---|---|---|
Jun 30, 2026 | $44.37M | $287.76M | $307.82M | $36.29M |
Mar 31, 2026 | $30.35M | $290.72M | $305.68M | $34.26M |
Dec 31, 2025 | $26.99M | $295.55M | $296.70M | $32.57M |
Sep 30, 2025 | $28.78M | $290.36M | $294.46M | $36.38M |
Jun 30, 2025 | $25.73M | $283.22M | $284.72M | $33.29M |
Mar 31, 2025 | $25.18M | $282.71M | $301.15M | $30.69M |
Dec 31, 2024 | $32.55M | $280.89M | $278.37M | $32.40M |
Sep 30, 2024 | $26.21M | $280.33M | $287.44M | $34.27M |
Jun 30, 2024 | $26.58M | $283.34M | $273.50M | $27.54M |
Mar 31, 2024 | $21.34M | $285.20M | $297.41M | $27.07M |