---
schema_version: "secwatch.filing_event.v1"
accession: "0001393311-23-000079"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T12:25:32.574751+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Public Storage Q2 core FFO $4.28/share, up 7.3% YoY; announces $2.2B Simply Storage acquisition

## Summary
- Net income allocable to common shareholders $528.3M ($3.00 diluted EPS) vs $603.4M ($3.42) in Q2 2022.
- Core FFO per diluted share $4.28, up 7.3% YoY; record customer move-in volume growth of 13.6%.
- Same-store NOI increased 6.6% to $668.1M, driven by 6.3% revenue growth; occupancy 93.7%.
- On July 24, agreed to acquire 127-facility Simply Self Storage from BREIT for $2.2B cash, expected Q3 close.
- Issued $2.2B unsecured senior notes (2-30yr, rates SOFR+60bps to 5.350%) to fund acquisition; declared $3.00 quarterly dividend.

## SEC filing metadata
- accession: 0001393311-23-000079
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000079/0001393311-23-000079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000079/psa-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393311-23-000079
- JSON: https://secwatch.observer/filing/0001393311-23-000079.json
- Plain text: https://secwatch.observer/filing/0001393311-23-000079.txt

## Key facts
- Earnings Releases
  Public Storage reported the three months ended June 30, 2023 results: net income $528.3 million, EPS $3.00 per diluted common share. Guidance raised.
  - Period: the three months ended June 30, 2023
  - Net income: $528.3 million
  - EPS: $3.00 per diluted common share
  - Guidance: raised
  - Result: reported results
  source text: For the three months ended June 30, 2023, net income allocable to our common shareholders was $528.3 million or $3.00 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000079/0001393311-23-000079-index.htm
- Earnings Releases
  Public Storage reported the six months ended June 30, 2023 results: net income $995.8 million, EPS $5.65 per diluted common share. Guidance raised.
  - Period: the six months ended June 30, 2023
  - Net income: $995.8 million
  - EPS: $5.65 per diluted common share
  - Guidance: raised
  - Result: reported results
  source text: For the six months ended June 30, 2023, net income allocable to our common shareholders was $995.8 million or $5.65 per diluted common share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393311/000139331123000079/0001393311-23-000079-index.htm

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