PSA Public Storage (PSA) Q1 FY25 earnings call
Public Storage delivered strong Q1 FY25 results, marked by accelerating Core FFO per share growth and significant portfolio stabilization driven by increased move-in volumes and effective revenue management. The company is leveraging its digital transformation and robust balance sheet to pursue growth through development and acquisitions, including an international expansion proposal. While move-in rates remain pressured and LA rent restrictions pose a headwind, management is encouraged by broad-based demand and the resilience of the self-storage business.
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PSA operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | This call Mar 2025 Q1 FY25 | Change vs prior quarter |
|---|---|---|---|
| Properties Non-same-store | 500+Our outsized non-same-store portfolio of over 500 properties is poised to be a strong contributor again in 2025 with $454 million of NOI assumed at the midpoint.Source: earnings call transcript | 520Revenue growth in our non-same-store pool, which comprises 520 properties and 21% of our portfolio, accelerated to nearly 11%, as it continues to be an engine of growth.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.