Public Storage Reports First Quarter 2026 Results

Public Storage (the “Company”) (NYSE: PSA) announced today its results for the quarter ended March 31, 2026 and its updated outlook for full-year 2026. Net income and core funds from operations (“Core FFO”) per share for the quarter are presented below: Three Months Ended March 31, Change Metric (per share) 2026 2025 $ % Net Income $2.71 $2.04 $0.67 32.8% Core FFO $4.22 $4.12 $0.10 2.4% Highlights for the quarter: Announced the pending acquisition of National Storage Affiliates Trust (NYSE: NSA) in an all-stock transaction valued at an enterprise value of approximately $10.5 billion. Achieved 2.4% Core FFO growth and 2.6% Total Self-Storage growth during the first quarter of 2026. Achieved a 77.1% Same Store net operating income margin, an expansion of 0.4% compared to the first quarter of 2025. Tom Boyle appointed as Chief Executive Officer and a trustee of the Board effective April 1, 2026. Shank Mitra appointed as Chairman of the Board effective April 1, 2026. Development