Increased 2025 Outlook
Public Storage is raising its outlook for 2025 based on stabilizing operations and accelerated acquisitions, with $785 million closed or under contract year-to-date.
Strong Non-Same-Store NOI Growth
The non-same-store pool is expected to generate approximately $470 million of high-growth NOI in 2025, with an additional $110 million through stabilization in 2026 and beyond.
Successful Capital Allocation
With more than $1.1 billion in acquisitions and development already announced for this year, Public Storage is expanding the high-growth non-same-store pool through additional acquisitions and a $648 million development pipeline.
Strong Financial Performance
Core FFO increased by 1.2% in the quarter, with FFO growth accelerating 240 basis points from the level achieved during the second quarter of last year.
International Growth Opportunities
Public Storage is positioned to grow internationally, demonstrated by success with Shurgard in Europe and potential new partnerships in Australia and New Zealand.