Quarterly ResultJul 29, 2026, 04:14 PM
Public Storage Q2 Net Income $2.55/Share, Raises 2026 Guidance
AI Summary
Public Storage reported strong second quarter 2026 results with Net Income per share increasing 44.9% to $2.55, while Core FFO per share saw a slight decrease of 2.6% to $4.17. The company raised its full-year 2026 guidance for Core FFO per share to $16.75-$17.05, citing strong first-half performance and optimism for the second half. Strategic expansions include the recent closing of the National Storage Affiliates merger and an agreement to acquire Public Storage Canada for US$1.2 billion, significantly expanding its portfolio and market presence. The company also enhanced its financial flexibility through new credit facilities and senior note offerings.
Key Highlights
- Q2 2026 Net Income per share was $2.55, up 44.9% from $1.76 in Q2 2025.
- Q2 2026 Core FFO per share was $4.17, down 2.6% from $4.28 in Q2 2025.
- Raised full-year 2026 Core FFO per share guidance to $16.75-$17.05 from $16.35-$17.00.
- Closed NSA merger, expanding portfolio to over 4,500 locations and 327M sq ft.
- Agreed to acquire Public Storage Canada for US$1.2 billion, adding 68 properties.
- Acquired 20 self-storage facilities for $222.5 million, totaling 1.5 million net rentable square feet.
- Executed forward sale agreements for 796,009 shares under ATM program, securing $258 million.
- Entered into a new $3.0 billion unsecured revolving credit facility and $1.0 billion commercial paper program.
Price Impact
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