Public Storage reported its third‑quarter 2025 earnings, posting net income of $461.4 million and diluted earnings per share of $2.62, both above analyst expectations.
Funds from operations climbed to $4.33 per share, up 13.9% from the same period a year earlier and exceeding the consensus estimate of $4.24. Core FFO per share was $4.31, a 2.8% increase from Q3 2024.
The results were driven by a $71.5 million foreign‑currency gain on Euro‑denominated debt, a $21.5 million increase in non‑same‑store NOI from newly acquired and developing facilities, and a $10 million rise in depreciation expense. Same‑store revenue grew to $916.6 million.
Management reiterated confidence in the 2025 outlook, citing continued NOI growth, acquisition activity, and core FFO momentum. No new guidance figures were provided, but the revision signals an expectation of sustained earnings expansion.
The results reinforce Public Storage’s position as a leading self‑storage REIT, demonstrating resilience in a stabilizing market and a growing portfolio of non‑same‑store assets.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.