PSA Public Storage (PSA) Q2 FY26 earnings call
Public Storage is entering a new era, PS4.0, marked by strategic acquisitions and operational enhancements. The successful integration of NSA and the acquisition of Public Storage Canada are expanding the company's footprint and growth opportunities. Coupled with improving core operational metrics and a focus on customer experience through the PS Next platform, the company is building a foundation for stronger per-share earnings growth in the second half of 2026 and beyond.
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PSA operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | 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.