Public Storage (PSA) FY2026 earnings

Reported results

• Net income per common share – Diluted (GAAP) was $1.69 for the three months ended September 30, 2026, compared to $2.62 for the three months ended September 30, 2025.
• Non-GAAP Core FFO per share was $4.34 for the three months ended September 30, 2026, compared to $4.31 for the three months ended September 30, 2025.
• Total revenues were $1,366,190 thousand for the three months ended September 30, 2026, compared to $1,224,043 thousand for the three months ended September 30, 2025.
• Non-GAAP Same Store Net Operating Income was $768,833 thousand for the three months ended September 30, 2026, compared to $765,060 thousand for the three months ended September 30, 2025.
• Non-GAAP FFO per share and unit was $3.81 for the three months ended September 30, 2026, compared to $4.33 for the three months ended September 30, 2025.

Guidance

• Expected full-year 2026 non-GAAP Core FFO per share of $16.90 to $17.10.
• Expected full-year 2026 Same Store Revenue growth of —% to 0.5%.
• Expected full-year 2026 Same Store Expense growth of 1.5% to 2.5%.
• Expected full-year 2026 Same Store Net operating income growth of (0.8)% to 0.2%.
• Expected full-year 2026 Non-Same Store net operating income of $355,000 thousand to $363,000 thousand.

Price and volatility reaction

The stock moved +1.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -2.4 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-26 (8-K, Item 2.02). Read the original filing on sec.gov.