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Public Storage Earnings Calls
| Release date | Apr 27, 2026 |
| EPS estimate | $2.36 |
| EPS actual | $2.71 |
| EPS Surprise | 14.83% |
| Revenue estimate | 1.213B |
| Revenue actual | 1.218B |
| Revenue Surprise | 0.380% |
| Release date | Feb 12, 2026 |
| EPS estimate | $2.49 |
| EPS actual | $2.60 |
| EPS Surprise | 4.42% |
| Revenue estimate | 1.214B |
| Revenue actual | 1.216B |
| Revenue Surprise | 0.174% |
| Release date | Oct 28, 2025 |
| EPS estimate | $2.53 |
| EPS actual | $2.93 |
| EPS Surprise | 15.81% |
| Revenue estimate | 1.216B |
| Revenue actual | 1.224B |
| Revenue Surprise | 0.627% |
| Release date | Jul 28, 2025 |
| EPS estimate | $2.56 |
| EPS actual | $2.04 |
| EPS Surprise | -20.31% |
| Revenue estimate | 1.21B |
| Revenue actual | 1.201B |
| Revenue Surprise | -0.695% |
Last 4 Quarters for Public Storage
Below you can see how PSA-PI performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Jul 28, 2025 |
| Price on release | $19.28 |
| EPS estimate | $2.56 |
| EPS actual | $2.04 |
| EPS surprise | -20.31% |
| Date | Price |
|---|---|
| Jul 22, 2025 | $19.37 |
| Jul 23, 2025 | $19.33 |
| Jul 24, 2025 | $19.31 |
| Jul 25, 2025 | $19.32 |
| Jul 28, 2025 | $19.28 |
| Jul 29, 2025 | $19.42 |
| Jul 30, 2025 | $19.49 |
| Jul 31, 2025 | $19.75 |
| Aug 01, 2025 | $19.76 |
| 4 days before | -0.465% |
| 4 days after | 2.49% |
| On release day | 0.726% |
| Change in period | 2.01% |
| Release date | Oct 28, 2025 |
| Price on release | $21.02 |
| EPS estimate | $2.53 |
| EPS actual | $2.93 |
| EPS surprise | 15.81% |
| Date | Price |
|---|---|
| Oct 22, 2025 | $21.05 |
| Oct 23, 2025 | $20.98 |
| Oct 24, 2025 | $21.02 |
| Oct 27, 2025 | $20.97 |
| Oct 28, 2025 | $21.02 |
| Oct 29, 2025 | $20.96 |
| Oct 30, 2025 | $20.69 |
| Oct 31, 2025 | $20.39 |
| Nov 03, 2025 | $20.29 |
| 4 days before | -0.163% |
| 4 days after | -3.47% |
| On release day | -0.309% |
| Change in period | -3.63% |
| Release date | Feb 12, 2026 |
| Price on release | $19.76 |
| EPS estimate | $2.49 |
| EPS actual | $2.60 |
| EPS surprise | 4.42% |
| Date | Price |
|---|---|
| Feb 06, 2026 | $19.58 |
| Feb 09, 2026 | $19.67 |
| Feb 10, 2026 | $19.76 |
| Feb 11, 2026 | $19.82 |
| Feb 12, 2026 | $19.76 |
| Feb 13, 2026 | $19.92 |
| Feb 17, 2026 | $20.06 |
| Feb 18, 2026 | $20.14 |
| Feb 19, 2026 | $20.21 |
| 4 days before | 0.94% |
| 4 days after | 2.26% |
| On release day | 0.789% |
| Change in period | 3.22% |
| Release date | Apr 27, 2026 |
| Price on release | $19.40 |
| EPS estimate | $2.36 |
| EPS actual | $2.71 |
| EPS surprise | 14.83% |
| Date | Price |
|---|---|
| Apr 21, 2026 | $19.26 |
| Apr 22, 2026 | $19.33 |
| Apr 23, 2026 | $19.37 |
| Apr 24, 2026 | $19.42 |
| Apr 27, 2026 | $19.40 |
| Apr 28, 2026 | $19.38 |
| Apr 29, 2026 | $19.31 |
| Apr 30, 2026 | $19.23 |
| May 01, 2026 | $19.29 |
| 4 days before | 0.727% |
| 4 days after | -0.567% |
| On release day | -0.103% |
| Change in period | 0.156% |
Public Storage Earnings Call Transcript Summary of Q1 2026
Public Storage reported a generally constructive start to 2026 as management launched a new strategic phase called “PS 4.0,” advanced its PSNext operating platform, and moved to acquire National Storage Affiliates (NSA). Core FFO was $4.22 per share, up 2.4% year-over-year, driven by better-than-expected same-store NOI, strong non-same-store and ancillary income, and lower churn among existing customers. Move-in rents remain negative but improved versus expectations; occupancy was modestly higher year-over-year. Expenses were tightly managed (property tax appeals, payroll, R&M, utilities, and marketing all contributed to constrained expense growth). The NSA acquisition is structured as a joint venture that preserves balance sheet strength, and management expects $110–$130 million of synergies over time, breakeven in 2026 and multi-year per-share accretion thereafter. The balance sheet is strong (available liquidity ~$1.3B plus ~$600M annual free cash flow) and the company closed a $500M, 10-year unsecured note at 5% post-quarter. Management is keeping 2026 guidance unchanged given busy season ahead, continued uncertainty in some Sunbelt markets, and the pending NSA integration, while emphasizing long-term value creation via acquisitions, development, PSNext, and a new data-science partnership with Welltower.
