Aankondiging • Aug 02
Public Storage Declares Third Quarter 2024 Dividends, Payable on September 30, 2024 Public Storage announced that on August 1, 2024, Board of Trustees declared a regular quarterly common dividend of $3.00 per common share. All the dividends are payable on September 30, 2024, to shareholders of record as of September 13, 2024. Aankondiging • Aug 01
Public Storage Revises Earnings Guidance for the Year Ending December 31, 2024 Public Storage revised earnings guidance for the year ending December 31, 2024. For the year, the company expects revenue growth of (1.5)% to (0.5)% compared to prior guidance of (1.0)% to 1.0% and net operating income growth of (3.0)% to (1.3)% compared to prior guidance of (2.4)% to 0.7%. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: US$2.68 (vs US$3.01 in 2Q 2023) Second quarter 2024 results: EPS: US$2.68 (down from US$3.01 in 2Q 2023). Revenue: US$1.17b (up 3.9% from 2Q 2023). Net income: US$470.5m (down 11% from 2Q 2023). Profit margin: 40% (down from 47% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Global Specialized REITs industry. Aankondiging • Jul 26
Public Storage Appoints Maria R. Hawthorne to Board of Trustees and Member of the Audit Committee Public Storage announced the appointment of Maria R. Hawthorne to its Board of Trustees, effective immediately, with an initial term expiring at the 2025 annual meeting of shareholders. Ms. Hawthorne will serve as a member of the Audit Committee. Ms. Hawthorne brings over 35 years of real estate industry experience, including extensive executive management, operational, and leadership development experience. Ms. Hawthorne has been a member of the board of directors of Essex Property Trust Inc. since March 2020, and of ASGN Incorporated, since June 2021. She is a member of the audit committee of Essex Property Trust and is chair of the audit committee of ASGN. She served as a director of PS Business Parks Inc. from July 2016 until its sale in July 2022. Ms. Hawthorne previously served as President and Chief Executive Officer of PS Business Parks Inc. from August 2015 and July 2016, respectively, until her retirement in September 2020. Prior to her appointment as President and Chief Executive Officer, she served in various leadership roles at PS Business Parks since joining the company in 1988, including as Interim Chief Operating Officer, acting Chief Financial Officer, Chief Administrative Officer, and Executive Vice President, East Coast. Aankondiging • Jul 17
Public Storage to Report Q2, 2024 Results on Jul 30, 2024 Public Storage announced that they will report Q2, 2024 results After-Market on Jul 30, 2024 Aankondiging • May 09
Public Storage Declares Second Quarter 2024 Common Dividend, Payable on June 27, 2024 Public Storage announced that on May 8, 2024, the company Board of Trustees declared a regular quarterly common dividend of $3.00 per common share. All the dividends are payable on June 27, 2024, to shareholders of record as of June 12, 2024. Aankondiging • May 03
Public Storage Provides Earnings Guidance for the Year 2024 Public Storage provided earnings guidance for the year 2024. For the year, the company expects revenue growth of (1.0)% to 1.0%, net operating income growth of (2.4)% to 0.7%. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$2.61 (vs US$2.67 in 1Q 2023) First quarter 2024 results: EPS: US$2.61 (down from US$2.67 in 1Q 2023). Revenue: US$1.16b (up 5.2% from 1Q 2023). Net income: US$459.2m (down 1.8% from 1Q 2023). Profit margin: 40% (down from 43% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Global Specialized REITs industry. Aankondiging • Apr 05
Public Storage to Report Q1, 2024 Results on Apr 30, 2024 Public Storage announced that they will report Q1, 2024 results at 9:30 AM, US Eastern Standard Time on Apr 30, 2024 Aankondiging • Mar 26
Public Storage, Annual General Meeting, May 07, 2024 Public Storage, Annual General Meeting, May 07, 2024, at 11:00 US Eastern Standard Time. Location: Millennium Downtown 10007 New York New York United States Agenda: To elect eleven Trustees to Board of Trustees; to vote on an advisory resolution to approve the compensation of named executive officers (Say-on-Pay); to ratify the appointment of Ernst & Young LLP as independent registered public accounting firm for the year ending December 31, 2024; and to transact such other business as may properly come before the Annual Meeting and any postponements or adjournments thereof. Aankondiging • Feb 24
Public Storage Declares Regular Quarterly Common Dividend, Payable on March 28, 2024 Public Storage announced that on February 23, 2024, Board of Trustees declared a regular quarterly common dividend of $3.00 per common share. All the dividends are payable on March 28, 2024, to shareholders of record as of March 13, 2024. Aankondiging • Feb 21
Public Storage Provides Earnings Guidance for the Year 2024 Public Storage provided earnings guidance for the year 2024. For the year, the company expects revenue growth of (1.0)% to 1.0%, net operating income growth of (2.4)% to 0.7%. Reported Earnings • Feb 21
Full year 2023 earnings released: EPS: US$11.11 (vs US$23.64 in FY 2022) Full year 2023 results: EPS: US$11.11 (down from US$23.64 in FY 2022). Revenue: US$4.52b (up 6.5% from FY 2022). Net income: US$1.95b (down 53% from FY 2022). Profit margin: 43% (down from 98% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Global Specialized REITs industry. Aankondiging • Feb 01
Public Storage to Report Q4, 2023 Results on Feb 20, 2024 Public Storage announced that they will report Q4, 2023 results After-Market on Feb 20, 2024 Recent Insider Transactions • Dec 03
Chairman of the Board Trustees recently sold €2.4m worth of stock On the 30th of November, Ronald Havner sold around 10k shares on-market at roughly €237 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Ronald's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 23
Independent Trustee recently sold €1.2m worth of stock On the 20th of November, Avedick Poladian sold around 5k shares on-market at roughly €237 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €570k more than they bought in the last 12 months. Aankondiging • Nov 09
Public Storage Declares Regular Common Quarterly Dividend, Payable on December 28, 2023 Public Storage announced that on November 8, 2023, Board of Trustees declared a regular common quarterly dividend of $3.00 per common share. Dividend is payable on December 28, 2023, to shareholders of record as of December 13, 2023. New Risk • Oct 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 43% Last year net profit margin: 106% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (82% net debt to equity). Profit margins are more than 30% lower than last year (43% net profit margin). Reported Earnings • Oct 31
Third quarter 2023 earnings released: FFO per share: US$4.6 (vs US$4.69 in 3Q 2022) Third quarter 2023 results: FFO per share: US$4.6 (down from US$4.69 in 3Q 2022). Revenue: US$1.15b (up 5.0% from 3Q 2022). Funds from operations (FFO): US$807.0m (down 1.8% from 3Q 2022). FFO margin: 70% (down from 75% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Global Specialized REITs industry. Aankondiging • Oct 31
Public Storage Reports Results for the Three and Nine Months Ended September 30, 2023 Public Storage revised earnings guidance for the year 2023. For the year, the company expects revenue growth of 4.00% to 4.75% compared to prior guidance of 3.25% to 5.00% and net operating income growth of 3.20% to 4.70% compared to prior guidance of 2.20% to 5.10%. Aankondiging • Oct 06
Public Storage to Report Q3, 2023 Results on Oct 30, 2023 Public Storage announced that they will report Q3, 2023 results After-Market on Oct 30, 2023 Aankondiging • Sep 14
Public Storage (NYSE:PSA) completed the acquisition of Simply Storage Management, LLC from Blackstone Real Estate Income Trust, Inc. (OTCPK:BSTT). Public Storage (NYSE:PSA) entered into an agreement to acquire Simply Storage Management, LLC from Blackstone Real Estate Income Trust, Inc. (OTCPK:BSTT) for $2.2 billion on July 24, 2023. Public Storage will fund this acquisition with unsecured debt. The transaction is subject to the satisfaction of customary closing conditions and expected to close in the third quarter of 2023. The transaction is expected to be accretive to 2024 Core FFO per share with accretion accelerating to 1% through stabilization.
Eastdil Secured acted as financial advisor to Public Storage and Wachtell, Lipton, Rosen & Katz and Hogan Lovells US LLP acted as legal advisors to Public Storage. Wells Fargo, Newmark Group, Inc., BMO Capital Markets and Sumitomo Mitsui Banking Corporation acted as financial advisor to Blackstone Real Estate Income. Matt Rogers, Davis Coen, Nancy Mehlman, Andrew Blau, Kristy Fields, Lori Lesser and Ben Wells of Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone Real Estate Income.
Public Storage (NYSE:PSA) completed the acquisition of Simply Storage Management, LLC from Blackstone Real Estate Income Trust, Inc. (OTCPK:BSTT) on September 13, 2023. Reported Earnings • Aug 03
Second quarter 2023 earnings released: FFO per share: US$4.3 (vs US$4.61 in 2Q 2022) Second quarter 2023 results: FFO per share: US$4.3 (down from US$4.61 in 2Q 2022). Revenue: US$1.13b (up 7.0% from 2Q 2022). Funds from operations (FFO): US$756.6m (down 6.3% from 2Q 2022). FFO margin: 67% (down from 77% in 2Q 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Global Specialized REITs industry. Aankondiging • Jul 25
Public Storage (NYSE:PSA) entered into an agreement to acquire Simply Storage Management, LLC from Blackstone Real Estate Income Trust, Inc. (OTCPK:BSTT) for $2.2 billion. Public Storage (NYSE:PSA) entered into an agreement to acquire Simply Storage Management, LLC from Blackstone Real Estate Income Trust, Inc. (OTCPK:BSTT) for $2.2 billion on July 24, 2023. Public Storage will fund this acquisition with unsecured debt. The transaction is subject to the satisfaction of customary closing conditions and expected to close in the third quarter of 2023. The transaction is expected to be accretive to 2024 Core FFO per share with accretion accelerating to 1% through stabilization.
Eastdil Secured acted as financial advisor to Public Storage and Wachtell, Lipton, Rosen & Katz and Hogan Lovells US LLP acted as legal advisors to Public Storage. Wells Fargo, Newmark Group, Inc., BMO Capital Markets and Sumitomo Mitsui Banking Corporation acted as financial advisor to Blackstone Real Estate Income. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone Real Estate Income. Aankondiging • Jul 23
Public Storage Announces Resignation of David Lee as Chief Operating Officer, Effective August 1, 2023 On July 21, 2023, Public Storage announced that David Lee, the company’s chief operating officer, resigned for personal reasons, effective August 1, 2023. Aankondiging • Jul 13
Public Storage to Report Q2, 2023 Results on Aug 02, 2023 Public Storage announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 02, 2023 
