PSA · Public Storage
Price & Indicators
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Jul 30, 2026TL;DR. Public Storage raised full-year 2026 guidance across key metrics including Core FFO to $16.75–$17.05 per share (up $0.22 at midpoint), driven by improved move-in rents, occupancy, and the financing benefit from its newly closed NSA merger and announced PS Canada acquisition.
- + Raised full-year same-store revenue growth guidance by 90 bps and NOI growth by 110 bps, with Q4 expected to exit with positive revenue growth
- + Closed NSA merger adding over 1,300 teammates and 1,100 stores onto the platform overnight, with expected $110–$130 million run-rate synergies and $0.35–$0.50 annualized FFO accretion
- + Announced PS Canada acquisition for US$1.2 billion, with $0.02 per share 2026 financing benefit and over 100 bps lower cost Canadian debt
- + Non-same-store NOI growth of 22% and ancillary growth of 15% continued to lift results
- − Core FFO per share declined 2.6% year-over-year to $4.17 due to higher financing costs and G&A
- − Same-store expense growth raised to 2.0%–3.0%, up 40 bps from prior guidance, driven by incentive compensation costs
- − LA County rent restrictions continue to be a 50 bps headwind to same-store revenue growth in 2026
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
REIT - Industrial — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PSA
this stock
Public Storage
|
$50.57B | +9.4% | +2.7% | 27.5 | 3.5% |
|
PLD
Prologis, Inc.
|
$124.05B | +1.0% | +7.2% | 33.5 | 2.0% |
|
EXR
Extra Space Storage Inc.
|
$28.17B | +2.3% | +3.7% | 29.5 | 2.3% |
|
EGP
Eastgroup Properties Inc
|
$10.84B | +9.9% | +12.7% | 35.4 | 5.5% |
|
CUBE
CubeSmart
|
$8.54B | +4.1% | +5.3% | 26.4 | 3.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PSA | -1.4% | -7.2% | -4.2% | +0.3% | +9.4% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -1.2% | -6.7% | -16.4% | -0.6% | -3.5% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.