other material
confidence high
sentiment neutral
materiality 0.60
Public Storage reports Nov 2025 operating update: move-in rent down 10% in last two months, occupancy flat at 91.2%
Public Storage
- Two-month move-in avg annual contract rent $11.55/sq ft, down 10.0% YoY from $12.84/sq ft.
- Eleven-month move-in contract rent per sq ft $12.88, down 6.2% YoY; promotional discounts down 8.8%.
- Same-store occupancy at Nov 30: 91.2%, unchanged YoY; annual contract rent per occupied sq ft $22.59 (-0.3%).
- Year to date, Public Storage acquired or is under contract to buy 88 facilities (6.1M sq ft) for $949.4M.
- Two-month move-out contract rent lost $69.1M, down 3.2% YoY on lower square footage moved out.