Revenue segments as reported by the company.

Self-storage facilities

Ancillary operations

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Depreciation and amortization

General and administrative

Interest expense

Real estate acquisition and development expense

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Public Storage

Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Other Items segment includes general, administrative, and investment costs. The company was founded by Bradley Wayne Hughes, Sr. and Kenneth Q. Volk, Jr. in 1972 and is headquartered in Glendale, CA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Public Storage posts record 2022 results, eyes sustainable growth

Public Storage delivered strong financial performance in Q4 2022, with record results and a focus on sustainable growth strategies.
The company faces challenges from seasonal occupancy patterns and potential rate adjustments but remains resilient in its financial management.
Opportunities for growth lie in operational improvements, energy efficiency investments, and the trend of increased storage adoption post-pandemic.
Overall, Public Storage's prudent financial management, strategic asset acquisitions, and customer retention efforts position it well for future success.

Public Storage excels in Q1 2023, poised for growth

Public Storage's Q1 performance reflects operational excellence and strategic focus on growth initiatives, positioning the company for continued success.
Despite challenges in labor optimization and market dynamics, the company's strong financial position and innovative programs provide a solid foundation for future growth.
With a clear emphasis on efficiency gains, expansion opportunities, and market expertise, Public Storage remains well-positioned to capitalize on evolving industry trends.

Public Storage reports strong Q2 performance and strategic growth outlook

Public Storage's Q2 2023 earnings call highlighted robust performance, strategic acquisitions, and market resilience amidst concerns of a potential slowdown. With a focus on digital transformation, customer retention, and growth opportunities, the company aims to navigate challenges and capitalize on market trends for sustained success.

Public Storage excels in Q3, faces challenges amidst market shifts

Public Storage's Q3 performance reflects operational strength and growth potential, supported by digital initiatives and strategic acquisitions.
Challenges include managing negative revenue growth, increasing expenses, and adapting to a changing market landscape.
The company's focus on customer experience, cost management, and revenue optimization positions it well for future opportunities and sustained growth.

Public Storage reports robust Q4 performance and eyes growth opportunities

Public Storage's Q4 2023 performance showcased strong financial results and operational achievements, with a positive outlook for 2024.
The company's strengths lie in market resilience, customer conversion rates, and strategic acquisitions, while facing challenges in short-term revenue trends.
Opportunities for growth include digital transformation, revenue enhancement through occupancy improvements, and continued momentum in acquisitions.
Overall, Public Storage remains confident in its industry positioning and aims for a rebound in financial metrics in the latter half of 2024.

Public Storage reports Q1 decline in core FFO, eyes growth opportunities

Public Storage's Q1 2024 performance showed a decline in core FFO but positive same-store revenue growth and improving occupancy rates. Despite challenges like cost pressures and localized market impacts, they remain optimistic about capturing new customer activity and maintaining strong financial health. Opportunities lie in reaccelerating revenue growth, acquisition volume guidance, and improving trends in select markets.

Public Storage reports Q2 challenges, eyes growth opportunities ahead

Public Storage faced challenges with move-in rents decline but showcased strengths in occupancy trends and non-same-store pool performance.
The company's revised core FFO guidance and capital allocation decisions were key discussion points.
Opportunities lie in the acquisition market activity, move-in rates improvement, and strategic growth initiatives.
Overall, Public Storage demonstrated positive momentum and a focus on long-term stability and growth.

Public Storage sees stabilization in Q3 performance, eyes growth opportunities

Public Storage's Q3 performance reflects stabilization in operating fundamentals and revenue growth acceleration, despite challenges in core FFO and occupancy.
The company's strengths lie in its digital customer experience, strategic promotional discounts, and positioning for improvement in 2025.
Challenges include declining core FFO, occupancy, and a slight decrease expected in development deliveries for 2025.
Opportunities for Public Storage include anticipated improvement in 2025, growth potential in acquisitions, and future development starts from land holdings.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today the tax treatment of the Company's 2023 dividends. For the tax year ended December 31, 2023, distributions for the PSA common stock and all the various series of preferred stock were classified as follows:   2023             1st Quarter 2nd Quarter 3rd Quarter 4th Quarter   Ordinary Dividends 100.0000% 100.0000% 100.0000% 100.0000% Capital Gain Distributions 0.0000% 0.0000% 0.0000% 0.0000%       Total 100.0000% 100.000.

Public Storage Announces Tax Treatment of 2023 Dividends

JPMorgan BetaBuilders MSCI US REIT ETF

CubeSmart

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

Extra Space Storage

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

iShares Cohen & Steers REIT ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

Neuberger Berman Real Estate Securities Income Fund Inc

National Storage Affiliates Trust

US Diversified Real Estate ETF

Invesco Active US Real Estate

ALPS Active REIT ETF

ProShares Short Real Estate

Cohen And Steers Total Return Realty Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

SPDR Dow Jones REIT ETF

Schwab U.S. REIT ETF

Global Self Storage

Seven Hills Realty Trust

Self-Storage REITs delivered incredible growth early in the pandemic driven by surging housing market activity, but have been victims to their own success of late amid a supply-driven cooldown. Robust double-digit rent growth and relatively low operational barriers to entry prompted a wave of new development, with a roughly 12% expansion in total supply expected between 2022 and 2024. This supply boom - twice the magnitude of the multifamily sector - has reignited fierce "storage wars" between competing facilities, which has led to double-digit dips in new lease rates since mid-2022.

Storage REITs: Victims Of Own Success

Agree Realty

Boston Properties

Crown Castle International

Realty Income Corp

Vici Properties

W. P. Carey

The Go-Fishing Portfolio aims to provide a low-maintenance investment option for retirees seeking income from REITs. The portfolio includes ten REITs with an average dividend yield of 4.6% and projected FFO/sh growth rate of 5.1%. The portfolio composition remains unchanged for 2024, with a focus on dividend growth and survivability amidst credit crises.

The Buy-Hold-And-Go-Fishing REIT Portfolio: Year 2

Constellation Energy Corp

Microchip Technology

Old Dominion Freight Line

UnitedHealth Group

As inflation calms down, these dividend stocks are going to fire up. I'm talking about five stocks with payouts popping between 33% and 100% per year.

Keep Your Eye On These 5 Dividend-Growth Masters

Public Storage, being the world's largest self-storage REIT, stands to benefit from the growth of the self-storage industry. The company has a strong dividend history of paying uninterrupted dividends. FFO is projected to grow in the high-single digits over the next two years, signaling more dividend raises ahead.

Public Storage: REIT For Investors Looking To Collect Dividends For The Long Term

Enterprise Products Partners

JPMorgan Equity Premium Income ETF

JPMorgan Nasdaq Equity Premium Income ETF

Altria

5 Impressive High Yield Ideas For A Healthy Retirement

AbbVie

Ares Capital

Broadcom

Bank of America

Brookfield Renewable Partners

Brookfield Infrastructure Partners L.P.

Brookfield Infrastructure

Conagra Brands

CVS Health

Devon Energy

Enbridge

Energy Transfer LP Unit

Goldman Sachs

Hormel Foods

Johnson & Johnson

Lowe's

Pfizer

Rithm Capital Corp

Target

T-Mobile US

Stocks from multiple sectors, including consumer goods, energy, and healthcare, made the list. Their dividend yields range from a low of 2% to a high of 9.7%.

24 Top Dividend Stocks to Buy and Hold in 2024

Public Storage is a self-storage REIT that benefits from the increasing demand for storage units due to migration and downsizing trends. The company is the second-largest self-storage REIT and has experienced significant growth in its portfolio. Despite a decrease in industry demand, Public Storage has narrowed the occupancy gap and has strong financials, including industry-leading operating NOI margins.

Public Storage: Good Combination Of Income And Growth

The self-storage sector is known for its resilience to macroeconomic events and sustained demand, making it an attractive investment opportunity. Public Storage, a leader in the self-storage sector, stands out due to its scale, which ends up being reflected in its margins. Currently the company distributes a dividend with yields of 4% and with the opportunity to increase it due to its moderate payout ratio.

Public Storage: Remains Attractive With A 4% Dividend Yield

Prologis

Real estate investment trusts, commonly known as REITs, faced challenges in 2023, marked by a widespread decline in most stocks. The surge in interest rates contributed to investor hesitancy, mainly due to the substantial debt often associated with these businesses.

Top 3 REITs for 2024

AvalonBay Communities

Camden Property

Equity Residential

Mid-America Apartment Communities

Simon Property Group

Blue chip REITs are high-quality companies with access to equity and debt, stable earnings, and conservative dividend policies. Eight A-rated REITs with strong balance sheets and credit ratings are highlighted, including Realty Income, Equity Residential, AvalonBay, Simon Property Group, Prologis, Public Storage, MidAmerica, and Camden Property. These REITs have demonstrated consistent growth in adjusted funds from operations and dividends, making them attractive investments.

Who's Buying These 'Fortress' A-Rated REITs?

Himax Tech

Kraft Heinz

Philip Morris

Verizon

With speculation about interest rate cuts seemingly reaching a fever pitch, it's naturally time to consider high-yield dividend stocks. To be sure, this segment has lost some of its attractiveness over roughly the past two years as the Federal Reserve began earnestly hiking borrowing costs.

7 High-Yield Dividend Stocks to Buy if the Fed Cuts Rates

Alexandria Real Estate Equities

Global Net Lease

NETLease Corporate Real Estate ETF

National Retail Properties

I am very bullish on REITs. Not all of them! There are quite a few that I expect to do poorly. Here are three REITs to sell. Tax your tax loss and move on.

3 REITs To Sell Before 2024

News for Public Storage Stock (PSA)