Public Storage Q1 net income down 1.8% to $2.60 EPS; Core FFO $4.03, down 1.2% YoY

Public Storage

2024-Q1 EPS reported $2.60 revenue$1,157,220,000

Net income allocable to common shareholders $459.2M ($2.60 diluted EPS) vs $467.6M ($2.65) in Q1 2023.
Core FFO per diluted share $4.03, down 1.2% YoY from $4.08.
Same Store revenue +0.1%, NOI -1.5% as expenses grew 4.8% (property taxes +7.4%, marketing +40.4%).
Issued $1.0B senior notes (floating $700M due 2027, fixed $300M 5.350% due 2053) and €150M 4.080% notes due 2039; repaid $700M and €100M notes.
FY2024 Core FFO guidance $16.60-$17.20 per share (-1.7% to +1.8% growth); Same Store NOI growth -2.4% to +0.7%.

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 months ended March 31, 2024 results: net income $2.60 per diluted common share, EPS $2.60.

Period: the three months ended March 31, 2024
Net income: $2.60 per diluted common share
EPS: $2.60
Result: reported results

Exact text from the filing

Reported net income allocable to common shareholders of $2.60 per diluted share.

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Source: SEC EDGAR

accession 0001393311-24-000108

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