---
schema_version: "secwatch.filing_event.v1"
accession: "0001393311-24-000166"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2024-07-30T23:59:59+00:00"
generated_at: "2026-05-31T15:09:07.556663+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Public Storage Q2 net income $2.66/sh; core FFO $4.23; cuts 2024 outlook

## Summary
- Net income $468.4M ($2.66/diluted) vs $528.3M ($3.00) YoY; core FFO $4.23 vs $4.28.
- Same-store revenue -1.0%, NOI -1.6%; occupancy 93.0% vs 93.5%; realized rent per occ. sq ft $22.54.
- Repurchased $200M common shares at avg $275/sh; issued €150M notes (4.080%) and $1B senior notes.
- 2024 guidance lowered: same-store NOI growth now (3.0)-(1.3)% from prior (2.4)-0.7%; non-same store NOI cut.
- CEO cites industry-wide competition impacting move-in rents; signs of stabilization noted.

## SEC filing metadata
- accession: 0001393311-24-000166
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2024-07-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000139331124000166/0001393311-24-000166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000139331124000166/psa-20240730.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393311-24-000166
- JSON: https://secwatch.observer/filing/0001393311-24-000166.json
- Plain text: https://secwatch.observer/filing/0001393311-24-000166.txt

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