Public Storage Raises Annual Core FFO Outlook Following Strong Q3 Performance
Public Storage (NYSE: PSA) has raised its full-year outlook, forecasting core Funds From Operations (FFO) per share to be between $16.90 and $17.10. The company reported that operating fundamentals during the third quarter exceeded management's expectations, driven by improved customer retention rates and stronger pricing for new customers. The upward revision comes as the company continues its strategic integration of National Storage Affiliates (NSA) and Public Storage Canada. CEO H. Boyle noted that these favorable operational trends provide increased confidence in the company's ability to meet or exceed its revised annual guidance.
Tickers: $PSA
Topics: customer retention earnings report guidance raise pricing power