Public Storage Q2 net income $2.55/share, raises FY2026 guidance; closes NSA merger, agrees to buy PS Canada

Public Storage

Q2 net income per share $2.55, up 44.9% YoY; Core FFO per share $4.17, down 2.6% YoY.
Same-store revenue declined 0.6% YoY; average occupancy 92.5% vs 92.3% prior year.
Raised FY2026 Core FFO guidance to $16.75-$17.05 per share from $16.35-$17.00.
Closed NSA all-stock merger on July 22; portfolio now over 4,500 locations, 327M sq ft.
Agreed to acquire PS Canada for $1.2B (68 properties, 5.3M sq ft); expected close Q3 2026.

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