secwatch.observer — SEC 8-K summary
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Issuer:     Public Storage (PSA)
CIK:        0001393311
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001393311-24-000108
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393311/000139331124000108/0001393311-24-000108-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393311/000139331124000108/psa-20240430.htm
  HTML page:      https://secwatch.observer/filing/0001393311-24-000108

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer