NYSE$PSA
Public Storage · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Public Storage reported stable operational performance in Q4 2024, with strong financials despite minor revenue declines in Same Store Facilities.
Public Storage reported net income of $564.4 million, with revenue reaching $1.18 billion. Core FFO per share stood at $4.21. The company expanded its portfolio with acquisitions and developments, while the overall same-store revenue showed a slight decline due to occupancy challenges.
- Net income increased to $564.4 million, up from $389.7 million in Q4 2023.
- Revenue reached $1.18 billion, with self-storage contributing $1.1 billion.
- Core FFO per share stood at $4.21, reflecting stable financial performance.
- Acquired 17 self-storage facilities, adding 1.3 million net rentable square feet.
Headline financials
Revenue & EPS history
Public Storage · Revenue · Quarterly
$1.18B
Revenue by segment
Public Storage · $65.1M total across 1 segment · Q3 2023
- Ancillary Operations$65.1M+7.1%100.0%
Forward guidance
Public Storage expects stable financial performance in 2025, with slight revenue growth but continued operational challenges in certain regions.
Tailwinds
- Projected revenue growth between -1.3% and 0.8% for Same Store Facilities.
- Expansion continues with additional facilities under development.
- Strong balance sheet supports future acquisitions and investments.
- Ancillary net operating income expected to grow up to $203 million.
- Continued optimization efforts expected to enhance operational efficiency.
Headwinds
- Same Store revenue growth could be negatively impacted by pricing restrictions in Los Angeles County.
- Net operating income growth may decline slightly due to increased costs.
- Higher interest expenses anticipated for 2025.
- Increased property tax and operational expenses could pressure margins.
- Uncertainty around macroeconomic conditions may impact demand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-0.5%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+0.6%
Avg return
30 days after
45%
33 / 73 earnings
Positive
+5.4%
Q4 2015
Best reaction
-8.6%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.2% | -1.3% | +1.0% | |
| Q4 2025 | +2.7% | +2.3% | +1.8% | |
| Q3 2025 | -2.8% | -4.6% | -5.1% | |
| Q2 2025 | -5.8% | -2.4% | +2.1% | |
| Q1 2025 | -0.1% | -0.8% | +2.7% | |
| Q4 2024 | +1.7% | +0.1% | -3.8% | |
| Q3 2024 | -0.7% | +0.4% | +5.1% | |
| Q2 2024 | -2.3% | +3.0% | +12.9% | |
| Q1 2024 | -1.1% | +1.1% | +2.0% | |
| Q4 2023 | +2.5% | +1.2% | +0.1% | |
| Q3 2023 | +0.1% | +6.2% | +8.1% | |
| Q2 2023 | +2.7% | +1.3% | -1.3% | |
| Q1 2023 | +1.2% | +3.7% | +0.6% | |
| Q4 2022 | -2.2% | -1.9% | -5.6% | |
| Q3 2022 | -8.6% | -10.3% | -4.6% | |
| Q2 2022 | +0.9% | +4.4% | +1.4% | |
| Q1 2022 | -1.4% | -6.4% | -7.5% | |
| Q4 2021 | +2.9% | +5.6% | +8.6% | |
| Q3 2021 | +1.7% | -2.8% | -2.0% | |
| Q2 2021 | -1.4% | -2.0% | +6.4% | |
| Q1 2021 | +1.6% | +1.1% | +2.7% | |
| Q4 2020 | +0.4% | -4.3% | +0.9% | |
| Q3 2020 | -2.0% | -5.7% | -4.7% | |
| Q2 2020 | -2.6% | +0.6% | +5.3% | |
| Q1 2020 | -1.3% | -3.9% | +8.6% | |
| Q4 2019 | +0.8% | -7.7% | -17.1% | |
| Q3 2019 | -4.0% | -5.7% | -8.8% | |
| Q2 2019 | +0.0% | +2.8% | +8.0% | |
| Q1 2019 | +2.6% | +2.5% | +7.6% | |
| Q4 2018 | +4.1% | +5.3% | +8.7% | |
| Q3 2018 | -0.3% | -3.3% | +2.8% | |
| Q2 2018 | -3.5% | -0.9% | -2.4% | |
| Q1 2018 | +3.1% | +4.1% | +7.6% | |
| Q4 2017 | +1.1% | +3.7% | +3.7% | |
| Q3 2017 | -2.8% | -0.6% | +1.3% | |
| Q2 2017 | -4.5% | -1.0% | -1.9% | |
| Q1 2017 | -5.6% | -8.1% | -4.1% | |
| Q4 2016 | -0.3% | +0.1% | -2.1% | |
| Q3 2016 | -4.8% | +0.6% | -3.1% | |
| Q2 2016 | -4.7% | -4.6% | -10.6% | |
| Q1 2016 | -4.0% | — | — | |
| Q4 2015 | +5.4% | — | — | |
| Q3 2015 | -1.7% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | -1.5% | — | — | |
| Q3 2014 | +2.9% | — | — | |
| Q2 2014 | -1.5% | — | — | |
| Q1 2014 | -2.8% | — | — | |
| Q4 2013 | -0.0% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | +0.9% | — | — | |
| Q1 2013 | -0.8% | — | — | |
| Q4 2012 | -0.0% | — | — | |
| Q3 2012 | +1.6% | — | — | |
| Q2 2012 | -1.7% | — | — | |
| Q1 2012 | -3.4% | — | — | |
| Q4 2011 | -1.5% | — | — | |
| Q3 2011 | +1.5% | — | — | |
| Q2 2011 | +2.2% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q4 2010 | -2.8% | — | — | |
| Q3 2010 | -3.3% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q1 2009 | +5.3% | — | — | |
| Q1 2010 | -0.8% | — | — | |
| Q4 2009 | +3.6% | — | — | |
| Q4 2007 | +3.6% | — | — | |
| Q3 2008 | +3.6% | — | — | |
| Q3 2009 | +3.6% | — | — | |
| Q2 2009 | -6.1% | — | — | |
| Q2 2008 | -6.1% | — | — | |
| Q4 2008 | -6.1% | — | — |
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