Public Storage Q1 core FFO fall short as expenses drive up [Seeking Alpha]
Public Storage (PSA)
Last public storage earnings: 4/30 04:00 pm
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US:NYSE Investor Relations:
investors.publicstorage.com/home/default.aspx
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Source: Seeking Alpha
Q1 core FFO of $4.03 , trailing the $4.10 consensus, fell from $4.33 in the previous quarter and $4.08 in the year-ago period. Revenue of $1.16B, exceeding the $1.15B expected, climbed from $869.7M in Q4 2023 and $1.09B a year before. Expenses totaled $702.5M, up from $614.7M in Q4 2023 and $568.5M in Q1 2023. “With first quarter performance in-line with our expectations, the Public Storage team is encouraged as we approach the busy season,” said President and CEO Joe Russell. “Our view is supported by positive trends in customer behavior and waning deliveries of competitive new supply across the country." The self-storage REIT saw its same-store direct NOI margin retreat to 77.2% from 79.7% in Q4 2023. During the quarter, Public Storage ( PSA ) opened one newly developed facility and completed various expansion projects, which together added 0.3M net rentable square feet at a cost of $35.0M. Conference call on May 1 at 9:00 a.m. ET. Recommended For You More Trending
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PSA
News
- Public Storage (NYSE: PSA) had its price target lowered by analysts at Barclays PLC from $330.00 to $327.00. They now have an "overweight" rating on the stock.MarketBeat
- Here's Why Public Storage (PSA) is an Apt Portfolio Pick Now [Yahoo! Finance]Yahoo! Finance
- Public Storage Declares Second Quarter 2024 Dividends [Yahoo! Finance]Yahoo! Finance
- Public Storage Declares Second Quarter 2024 DividendsBusiness Wire
- A Public Service Announcement On Public Storage - It's A 'Buy' [Seeking Alpha]Seeking Alpha
PSA
Earnings
- 4/30/24 - Beat
PSA
Sec Filings
- 5/15/24 - Form 4
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- PSA's page on the SEC website