WASHINGTON (dpa-AFX) - Public Storage (PSA) on Monday, reported lower net income for the third quarter of 2026 compared with the same period a year earlier.
Net income allocable to common shareholders declined 32.3 percent to $312.281 million from $461.408 million in the third quarter of 2025. Income per common share fell to $1.69 from $2.62. Total revenues increased to $1.366190 billion from $1.224043 billion.
FFO allocable to common shares and units declined 5.3 percent to $722.212 million from $762.657 million, while FFO per share and unit fell to $3.81 from $4.33. Core FFO increased 8.2 percent to $822.758 million from $760.154 million, with Core FFO per share and unit rising to $4.34 from $4.31.
For the first nine months, net income allocable to common shareholders increased 9.8 percent to $1.23 billion from $1.12 billion, while total revenues rose to $3.81 billion from $3.60 billion.
Public Storage raised its 2026 guidance and now expects Core FFO per share of $16.90 to $17.10, compared with its previous forecast of $16.75 to $17.05. The company expects Same Store net operating income growth of negative 0.8 percent to positive 0.2 percent, improved from its prior forecast of negative 2.0 percent to negative 0.3 percent.
PSA is currently trading at $305.00 down $1.97 or 0.64 percent on the New York Stock Exchange.
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