other material
confidence high
sentiment negative
materiality 0.50
Public Storage Feb 2026 same-store occupancy 91.7%, move-in rents down 4.7% YoY
Public Storage
- Same-store (2,755 properties) occupancy 91.7% vs 90.6% a year ago (+1.1ppts).
- Move-in annual contract rent per sq ft $11.93, down 4.7% YoY; contract rents gained from move-ins $36.9M (-10.2%).
- Move-out annual contract rent per sq ft $19.55, down 2.3%; contract rents lost $53.5M (-7.6%).
- Annualized contract rent per occupied sq ft $22.13, essentially flat (-0.1% YoY).
- Promotional discounts on move-ins fell 16% to $9.2M, indicating less discounting.