---
schema_version: "secwatch.filing_event.v1"
accession: "0001393311-23-000024"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:43:15.823509+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001393311-23-000024
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000024/0001393311-23-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000024/psa-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393311-23-000024
- JSON: https://secwatch.observer/filing/0001393311-23-000024.json
- Plain text: https://secwatch.observer/filing/0001393311-23-000024.txt

## Key facts
- Earnings Releases
  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
  source text: On May 3, 2023, Public Storage announced its financial results for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000024/0001393311-23-000024-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.