Public Storage Q1 Core FFO $4.08 (+11.8% YoY); same-store NOI up 10.2%

Public Storage

2023-Q1 EPS reported $2.65 revenue$1,094,232,000

Diluted EPS of $2.65 vs. $2.63 a year ago; net income allocable to common shareholders $467.6M.
Core FFO per share $4.08, up 11.8% YoY; excluding PS Business Parks, growth was 16.2%.
Same-store revenue +9.8% to $848.7M; same-store direct NOI margin 78.9% (+0.4 pts).
Acquired 5 facilities for $46.8M in Q1; post-quarter acquired/under contract 12 facilities for $139.0M.
FY 2023 Core FFO guidance $16.15–$16.80 per share; same-store NOI growth expected 1.5%–5.1%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Public Storage reported the three months ended March 31, 2023 results: net income $467.6 million or $2.65 per diluted common share, EPS $2.65 per diluted share.

Period: the three months ended March 31, 2023
Net income: $467.6 million or $2.65 per diluted common share
EPS: $2.65 per diluted share
Result: reported results

Exact text from the filing

On May 3, 2023, Public Storage announced its financial results for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001393311-23-000024

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