other material
confidence high
sentiment negative
materiality 0.60
Public Storage Q4 same-store occupancy 91.6%; move-in rents down 17.8% YoY
Public Storage
- Same-store occupancy fell to 91.6% at Dec 31, 2023 from 92.3% a year earlier.
- Average annual move-in rent per sq ft dropped 17.8% YoY to $13.73 in Q4 2023.
- Move-out rents were virtually flat YoY at $21.18 per sq ft.
- December 2023 move-in rents declined 11.2% YoY, improving from the Q4 average decline of 17.8%.
- Annual contract rent per occupied sq ft rose 0.7% to $23.04.