Public Storage reports Q1 FFO $4.22, consensus $4.13

Reports Q1 revenue $1.00B, consensus $1.21B. Reports Q1: 2.4% Core FFO growth and 2.6% Total Self-Storage growth during the first quarter of 2026; Achieved a 77.1% Same Store net operating income margin, an expansion of 0.4% compared to the first quarter of 2025. “Public Storage’s (PSA) first quarter results reflect differentiated strategies that continue to drive our performance,” said Tom Boyle, CEO. “We are excited about the announcement of our acquisition of National Storage Affiliates and its ability to drive per share earnings growth. The pending acquisition will build upon our leading platform, which we expect to enhance customer experience, unlock operating upside, and jump start our Value Creation Engine.”