---
schema_version: "secwatch.filing_event.v1"
accession: "0001393311-24-000172"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2024-09-09T23:59:59+00:00"
generated_at: "2026-05-31T05:52:21.297528+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Public Storage Q3 operating update: move-in rents down 9.4% YoY, occupancy slips to 91.6%

## Summary
- Average annual contract rent per sq ft for move-ins fell 9.4% to $14.82 from $16.36 YoY.
- Move-out average contract rent decreased 2.8% to $20.85 per sq ft versus $21.44 last year.
- Same-store square foot occupancy at August 31, 2024 was 91.6%, down 60 bps from 92.2%.
- Contract rents gained from move-ins dropped 11.0% to $50.8M; move-out rents lost $77.6M (-2.9%).
- Same-store facilities count remains 2,507 with 170.0M net rentable sq ft since Jan 1, 2022.

## SEC filing metadata
- accession: 0001393311-24-000172
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2024-09-09T23:59:59+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/1393311/000139331124000172/0001393311-24-000172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000139331124000172/psa-20240909.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393311-24-000172
- JSON: https://secwatch.observer/filing/0001393311-24-000172.json
- Plain text: https://secwatch.observer/filing/0001393311-24-000172.txt

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