secwatch.observer — SEC 8-K summary
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Issuer:     Public Storage (PSA)
CIK:        0001393311
Form:       8-K
Filed at:   2024-06-03T23:59:59+00:00
Accession:  0001393311-24-000140
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393311/000139331124000140/0001393311-24-000140-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393311/000139331124000140/psa-20240603.htm
  HTML page:      https://secwatch.observer/filing/0001393311-24-000140

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