PSA - Public offerings

Public Storage (NYSE:PSA, the "Company")) announced today that the Company’s subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of $900 million aggregate principal amount of fixed-rate senior notes (the "Notes"). The Notes will be guaranteed by the Company. The Notes will be issued in two tranches with a weighted average effective interest rate of 4.855%, inclusive of the impact of the interest rate swaps noted below. The first tranche of $400 million aggregate principal amount of fixed-rate senior notes due 2032 will bear interest at an annual rate of 4.700%, will be issued at 99.283% of par value and will mature on February 1, 2032 (the "2032 Notes"). Th

Public Storage (the "Company") (NYSE:PSA) announced today its results for the quarter ended March 31, 2026 and its updated outlook for full-year 2026. Net income and core funds from operations ("Core FFO") per share for the quarter are presented below:   Three Months Ended March 31, Change Metric (per share) 2026 2025 $ % Net Income $2.71 $2.04 $0.67 32.8% Core FFO $4.22 $4.12 $0.10 2.4% Highlights for the quarter: Announced the pending acquisition of National Storage Affiliates Trust (NYSE:NSA) in an all-stock transaction valued at an enterprise value of approximately $

Public Storage (NYSE:PSA, the "Company")) announced today that the Company's subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of $500 million aggregate principal amount of fixed rate senior notes due 2035 (the "Notes"). The Notes will be guaranteed by the Company. The Notes will bear interest at an annual rate of 5.000%, will be issued at 99.182% of par value and will mature on December 15, 2035. We will pay interest on the Notes semi-annually on June 15 and December 15 of each year, commencing June 15, 2026. The offering is expected to close on April 6, 2026, subject to the satisfaction of customary closing conditions. PSOC expects to use the net proc

Public Storage (NYSE:PSA, the "Company")) announced today that the Company's subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of €425 million aggregate principal amount of senior notes due 2034 (the "Notes"). The Notes will be guaranteed by the Company. The Notes will bear interest at an annual rate of 3.500%, will be issued at 99.447% of par value and will mature on January 20, 2034. Interest on the Notes is payable annually on January 20 of each year, commencing January 20, 2026. The offering is expected to close on October 3, 2025, subject to the satisfaction of customary closing conditions. PSOC expects to use the net proceeds to repay the outstandin

Public Storage (NYSE:PSA) announced today operating results for the three and six months ended June 30, 2025. "We are raising our outlook based on stabilizing operations and accelerated acquisition volume," said Joe Russell, President and Chief Executive Officer. "Strategic initiatives across the company are distinguishing our performance. Public Storage's operating model transformation is enhancing the customer experience while bolstering our leading growth and profitability. Leveraging our platform strength, strong retained cash flow, reputation as a preferred acquirer, and unique in-house development team, we are executing on accretive acquisitions and development with more than $1.1 b

Public Storage (NYSE:PSA, the "Company")) announced today that the Company's subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of $875 million aggregate principal amount of senior notes (the "Notes"). The Notes will be guaranteed by the Company. The Notes will be issued in two tranches with a weighted average interest rate of approximately 4.661%. The first tranche of $475 million aggregate principal amount of fixed rate senior notes due 2030 will bear interest at an annual rate of 4.375%, will be issued at 99.707% of par value and will mature on July 1, 2030 (the "2030 Notes"). Including the impact of interest rate swaps, the effective interest rate of t

Public Storage (NYSE:PSA) announced today operating results for the fourth quarter and year ended December 31, 2024. "Our fourth quarter performance reflected broad operational stabilization across the portfolio," said Joe Russell, President and Chief Executive Officer. "In the new year, we are inspired by the strength of the Los Angeles community in response to the fires and are fully supporting impacted customers and team members. Due to the associated pricing restrictions, our guidance anticipates an approximate $0.23 per share impact to Core FFO in 2025 while portfolio operations outside of Los Angeles continue to improve. Our completed Property of Tomorrow enhancement program, indust

Public Storage (NYSE:PSA) announced today operating results for the three and six months ended June 30, 2024. "The Public Storage team is executing well on our strategic initiatives, including enhancing our operating efficiencies, achieving industry-leading margins, and delivering record property development volumes," said Joe Russell, President and Chief Executive Officer. "Operating performance met or exceeded our expectations during the quarter except for customer move-in rents, which were impacted by industry-wide competition. We are adjusting our outlook for 2024 to reflect market move-in rent dynamics while remaining very encouraged by signs of stabilization across our portfolio. Ou

Public Storage (NYSE:PSA) announced today operating results for the three months ended March 31, 2024. "With first quarter performance in-line with our expectations, the Public Storage team is encouraged as we approach the busy season," said Joe Russell, President and Chief Executive Officer. "Our view is supported by positive trends in customer behavior and waning deliveries of competitive new supply across the country. The Public Storage team continues to deploy the powerful combination and competitive advantages tied to our brand, platform, and balance sheet. As a result, we are driving stabilizing trends in our portfolio, including re-accelerating revenue growth month-over-month in an

Public Storage (NYSE:PSA, the "Company"))) announced today that the Company's subsidiary, Public Storage Operating Company ("PSOC"), has priced a public offering of $1.0 billion aggregate principal amount of senior notes (the "Notes"). The Notes will be guaranteed by the Company. The Notes will be issued in two tranches with an initial weighted average interest rate of approximately 5.8%. The first tranche of $700 million aggregate principal amount of floating rate senior notes due 2027 will bear interest at a rate equal to Compounded SOFR (as defined in the prospectus supplement relating to the offering), reset quarterly, plus 70 basis points, will be issued at 100.000% of par value and

Public Storage (NYSE:PSA) announced today operating results for the three and nine months ended September 30, 2023. "Public Storage's industry-leading platform drove higher move-in volumes, improved occupancy, and better-than-expected NOI growth in our stabilized and lease-up portfolios during the third quarter. Collectively, this propelled a third consecutive increase to our outlook for 2023 within a competitive customer move-in environment across the self-storage industry," said Joe Russell, President and Chief Executive Officer. "The team successfully integrated the $2.2 billion Simply Self Storage portfolio, welcoming approximately 90,000 customers to our platform. We are uniquely pos

Public Storage (NYSE:PSA) (the "Company") announced today that it has completed the previously announced acquisition of Simply Self Storage ("Simply") from Blackstone Real Estate Income Trust, Inc. ("BREIT") for $2.2 billion. The portfolio comprises 127 wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states and located in markets with population growth that has been approximately double the national average since 2018. Approximately 65% of the properties are located in high-growth Sunbelt markets. Public Storage is deploying its industry-leading brand and operating platform to drive customer recognition and enhance performance

Public Storage (NYSE:PSA) announced today operating results for the three and six months ended June 30, 2023. "Public Storage's industry-leading platform was evident during the second quarter, with record customer move-in volume growth of 13.6%, stabilized same store NOI growth of 6.6%, and non-same store lease-up NOI growth of 20%. These factors led to an increase in our outlook for the back half of the year," said Joe Russell, President and Chief Executive Officer. "We continue to invest in the industry's leading digital platform and our operating model, while enhancing and growing our portfolio. As evidenced by our recent $2.2 billion Simply Self Storage acquisition, we remain uniquely

Public Storage (NYSE:PSA, the "Company"))) announced today that the Company has priced a public offering of $2.2 billion aggregate principal amount of senior notes (the "Notes") primarily to fund the recently announced Simply Self Storage acquisition. The multi-tranche offering includes the Company's inaugural 30-year senior note offering. The Notes will be issued in four tranches with an initial weighted average interest rate of approximately 5.3%. The first tranche of $400 million aggregate principal amount of floating rate senior notes due 2025 will bear interest at a rate equal to Compounded SOFR (as defined in the prospectus supplement relating to the offering), reset quarterly, plus

Public Storage (NYSE:PSA) announced today operating results for the three months ended March 31, 2022. "Public Storage's operating strength was pronounced with revenue growth accelerating during the first quarter as we served the needs of over 1.8 million customers," said Joe Russell, President and Chief Executive Officer. "The Public Storage team continues to deliver exceptional performance utilizing our industry-leading platform, including first-mover technologies and multi-factor external growth, and balance sheet strength." Highlights for the Three Months Ended March 31, 2022 Reported net income allocable to common shareholders of $2.63 per diluted share. Reported core FFO allocab

Public Storage (NYSE:PSA) announced today operating results for the fourth quarter and year ended December 31, 2021. "Public Storage achieved significant portfolio growth, industry-leading transformation of the customer experience, and record financial results in 2021," said Joe Russell, President and Chief Executive Officer. "Our momentum continues with customers enjoying end-to-end digital experience options, high-growth properties in our non-same store pool comprising 25% of the portfolio, and broad opportunity for continued growth across our acquisition, development, redevelopment, and third-party management platforms. We are well-positioned for continued strength in 2022 and beyond."

Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"))), announced that the Company has priced a public offering of 10,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 4.100% Cumulative Preferred Share of Beneficial Interest, Series S (the "Series S Preferred Shares"). The offering is expected to result in $250 million of gross proceeds (assuming no exercise of the underwriters' overallotment option) and to close on or about January 13, 2022, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds for general corporate purposes, including to fund acquisitio

Public Storage (NYSE:PSA), the leading owner, acquirer, developer, and operator of self-storage properties, announced today that it has closed on the acquisition of All Storage, a high-quality self-storage portfolio, for $1.5 billion. The transaction adds 56 self-storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. The 52 properties in Dallas-Fort Worth add prominent locations in new, high-growth submarkets in addition to complementary locations in Public Storage's existing submarkets. With the addition of the portfolio and additional properties recently closed or under contract, the Company's Dallas-Fort Worth presence is unm

Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"))), announced that the Company has priced a public offering of 17,400,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 4.00% Cumulative Preferred Share of Beneficial Interest, Series R (the "Series R Preferred Shares"). The offering is expected to result in $435 million of gross proceeds (assuming no exercise of the underwriters' overallotment option) and to close on or about November 19, 2021, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds for general corporate purposes, including to fund acquisitio

Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"))), announced today that the Company has priced a public offering of $1.75 billion aggregate principal amount of senior notes (the "Notes"). The Notes will be issued in three tranches. The first tranche of $650 million aggregate principal amount of senior notes due 2026 will bear interest at an annual rate of 1.500%, will be issued at 99.847% of par value and will mature on November 9, 2026. The second tranche of $550 million aggregate principal amount of senior notes due 2028 will bear interest at an annual rate of 1.950%, will be issued at 99.954% of par value and will mature on November 9, 2028. The third tran

Public Storage (NYSE:PSA) announced today operating results for the three and nine months ended September 30, 2021. Highlights for the Three Months Ended September 30, 2021 Reported net income allocable to common shareholders of $2.52 per diluted share. Reported core FFO allocable to common shareholders ("Core FFO") of $3.42 per diluted share, an increase of 30.0% relative to the same period in 2020. Increased Same Store (as defined below) direct net operating income by 20.8%, resulting from a 14.0% increase in Same Store revenues and a 6.2% decrease in Same Store direct cost of operations. Achieved 79.1% Same Store direct net operating income margin, an increase of 4.5% relativ

Tom Boyle, Senior Vice President and Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"))), announced today that the Company has priced a public offering of €700 million aggregate principal amount of Senior Notes due 2030 (the "Notes"). The Notes will bear interest at an annual rate of 0.500%, will be issued at 99.388% of par value and will mature on September 9, 2030. Interest on the Notes is payable annually on September 9 of each year, commencing September 9, 2022. The offering is expected to close on September 9, 2021, subject to customary closing conditions. The Company expects to use the net proceeds to make investments in self-storage facilities and in entities that o

Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"))), announced that the Company has priced a public offering of 5,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 3.950% Cumulative Preferred Share of Beneficial Interest, Series Q (the "Series Q Preferred Shares"). The offering is expected to result in $125 million of gross proceeds (assuming no exercise of the underwriters' overallotment option) and to close on or about August 17, 2021, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds for general corporate purposes, including the potential redem

Public Storage (NYSE:PSA), the leading owner, acquirer, developer, and operator of self-storage properties, announced today that it has closed on the acquisition of ezStorage, one of the highest quality self-storage portfolios in the United States, for $1.8 billion. The transaction adds 48 properties (4.2 million net rentable square feet) located in submarkets with strong demand and high barriers for new property development across Washington DC, Virginia, and Maryland. In combination with Public Storage's existing market presence, the Company's Mid-Atlantic portfolio is unmatched in coverage and quality with 163 properties and 11.3 million net rentable square feet. The acquisition highli

Public Storage (NYSE:PSA) announced today operating results for the three months ended March 31, 2021. Highlights for the Three Months Ended March 31, 2021 Reported net income allocable to common shareholders of $2.21 per diluted share. Reported core FFO allocable to common shareholders ("Core FFO") of $2.82 per diluted share, an increase of 9.3% relative to the same period in 2020. Increased same store direct net operating income by 6.5%, resulting from a 3.4% increase in same store revenues and a 5.7% decrease in same store direct cost of operations. Same store cost of operations was positively impacted by the timing of property tax expense. Achieved a 76.5% same store direct net

Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"))), announced today that the Company has priced a public offering of $2.0 billion aggregate principal amount of senior notes. The senior notes will be issued in three tranches. The first tranche of $700 million aggregate principal amount of floating rate senior notes due 2024 will bear interest at a rate equal to Compounded SOFR (as defined in the prospectus supplement relating to the offering), reset quarterly, plus 47 basis points, will be issued at 100.000% of par value and will mature on April 23, 2024. We will pay interest on the floating rate notes quarterly on January 23, April 23, July 23 and October 23 o

GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today operating results for the fourth quarter and year ended December 31, 2020. Comment from the CEO “At Public Storage, our focus on the health and safety of employees and customers, enhancing the industry’s leading platform and brand, and utilizing unparalleled capital access to fund growth drove our success in 2020,” said Joe Russell, President and Chief Executive Officer. “The outlook is favorable as we enter 2021. Public Storage is transforming the customer experience through innovation amidst strong consumer demand while executing on a robust external growth environment through property acquisitions, d

GLENDALE, Calif.--(BUSINESS WIRE)--Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the “Company”), announced today that the Company has priced a public offering of $500 million aggregate principal amount of Senior Notes due 2026 (the “Notes”). The Notes will bear interest at an annual rate of 0.875%, will be issued at 99.817% of par value and will mature on February 15, 2026. Interest on the Notes is payable semi-annually on February 15 and August 15 of each year, commencing August 15, 2021. The offering is expected to close on January 19, 2021, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds to make investment