other material
confidence high
sentiment neutral
materiality 0.65
Public Storage reports Q4 2025 operating update: occupancy up, move-in rents down 10.6%; acquired $942M in properties
Public Storage
- Q4 2025 move-in rent per sq ft down 10.6% YoY to $11.60; occupancy at 91.0%, up 50 bps from Dec 2024.
- Full-year 2025 same-store move-in rent -6.5% to $12.80; move-out rent -1.4% to $20.30; discounts -11% to $56.9M.
- Acquired 87 self-storage facilities for $942.2M (6.1M sq ft) in 2025.
- Annual contract rent per occupied sq ft at Dec 31: $22.55, down 0.7% from $22.72 a year ago.