Raised 2025 Outlook
Public Storage raised its 2025 outlook for the second consecutive quarter due to outperformance in same-store and non-same-store NOI growth, acquisition volume, and core FFO growth per share.
Digital and AI Integration Success
The company reported that 85% of customer interactions are now digital. AI is used to provide customer service, reducing labor hours by more than 30%, increasing employee engagement, and lowering turnover.
Strong Acquisition and Development Pipeline
Over $1.3 billion in wholly owned acquisitions and developments were announced this year, with a $650 million development pipeline to be delivered over the next 2 years.
Improved Financial Performance
Higher than expected revenue growth in the same-store pool, driven by strong in-place customer behavior. Core FFO per share increased by 2.6%.