secwatch.observer — SEC 8-K summary
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Issuer:     Public Storage (PSA)
CIK:        0001393311
Form:       8-K
Filed at:   2025-12-08T23:59:59+00:00
Accession:  0001628280-25-055820
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Public Storage reports Nov 2025 operating update: move-in rent down 10% in last two months, occupancy flat at 91.2%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393311/000162828025055820/0001628280-25-055820-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393311/000162828025055820/psa-20251208.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-055820

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer