Public Storage Reports Q3 2026 Earnings Growth and Raises Full-Year Guidance
Public Storage (PSA) reported third-quarter 2026 results characterized by steady growth in core metrics. Core Funds From Operations (FFO) rose to $4.34 per share, a 0.7% increase year-over-year, while same-store revenue and Net Operating Income (NOI) both grew by 0.5%. The company also saw a significant 9.3% increase in average move-in rates, reaching their highest pricing levels since mid-2022. Driven by these results, management raised its full-year guidance for both Core FFO and same-store revenue/NOI. Strategic activity remains high following the $1.2 billion acquisition of PS Canada, which closed in September 2026. While net debt to EBITDA increased to 3.4x due to recent transactions, the company maintains strong liquidity of $4.1 billion and continues to invest in a development pipeline totaling nearly $789 million.
Tickers: $PSA
Topics: Acquisition Core FFO Guidance Raise Occupancy Rates Same Store Revenue