Public Storage Q3 Core FFO $4.33 (+4.8% YoY); raises 2023 guidance to $16.95-$17.15

Public Storage

2023-Q3 EPS reported $8.85 revenue$3,357,822,000

Net income allocable to common shares $563.2M ($3.20/diluted) vs $2.7B in Q3 2022 which included $2.1B gain on sale of PSB.
Core FFO per diluted share $4.33, up 4.8% YoY; 2023 Core FFO guidance raised to $16.95-$17.15 from $16.70-$16.95.
Same Store direct NOI +1.9% on +2.5% revenue growth; occupancy 93.4% vs 94.5% YoY.
Closed $2.2B Simply Self Storage acquisition (127 facilities); issued $2.2B senior notes to fund.
Development pipeline 4.6M sq ft with $952.1M estimated cost; acquired ten additional facilities for $110.5M.

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 0.95

Public Storage reported the three and nine months ended September 30, 2023 results: net income $563.2 million, EPS $3.20 per diluted common share.

Period: the three and nine months ended September 30, 2023
Net income: $563.2 million
EPS: $3.20 per diluted common share
Result: reported results

Exact text from the filing

Public Storage announced its financial results for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001393311-23-000095

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