Public Storage Q4 Core FFO $4.20 (+1% YoY); 2024 guidance $16.80-$17.20

Public Storage

2023-FY EPS reported $11.06 revenue$4,517,690,000

Q4 net income $389.7M ($2.21 diluted EPS); Core FFO $4.20 per share, up 1.0% YoY.
Full-year 2023 Core FFO $16.89 per share, up 6.1% YoY; record revenues and net operating income.
Same Store direct NOI margin 79.7%; revenues +4.7% for full year; occupancy 91.6% at Dec 31.
Acquired 11 facilities ($171.9M) in Q4; full-year acquisitions included 127 Simply Storage properties for $2.2B.
2024 Core FFO guidance $16.80-$17.20; same-store pool expands to 2,507 facilities (170M sq ft).

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 fourth quarter and year ended December 31, 2023 results: net income net income allocable to common shareholders of $2.21 per diluted share.

Period: the fourth quarter and year ended December 31, 2023
Net income: net income allocable to common shareholders of $2.21 per diluted share
Result: reported results

Exact text from the filing

Public Storage announced its financial results for the quarter ended December 31, 2023.

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Source: SEC EDGAR

accession 0001393311-24-000041

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