---
schema_version: "secwatch.filing_event.v1"
accession: "0001393311-24-000140"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2024-06-03T23:59:59+00:00"
generated_at: "2026-06-01T06:45:03.854232+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Public Storage reports May 2024 operating update: move-in rents down 15.6% YoY

## Summary
- Same-store move-in average annual rent per sq ft fell to $14.05 from $16.65 (-15.6% YoY).
- Contract rents lost from move-outs declined 4.7% to $67.45M; occupied sq ft fell 3.2%.
- Same-store occupancy at May 31 was 92.8%, down 10 bps from 92.9% a year earlier.
- Annual contract rent per occupied sq ft slipped 1.1% to $22.64 from $22.89.
- Investor presentation with the update posted on company website under Item 7.01.

## SEC filing metadata
- accession: 0001393311-24-000140
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2024-06-03T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000139331124000140/0001393311-24-000140-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000139331124000140/psa-20240603.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393311-24-000140
- JSON: https://secwatch.observer/filing/0001393311-24-000140.json
- Plain text: https://secwatch.observer/filing/0001393311-24-000140.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.