Public Storage (PSA) reported second-quarter 2026 net income of $502.9 million, or $2.56 per basic share and $2.55 per diluted share, on total revenues of $1.23 billion. Net income per share was $2.55, compared with $1.76 a year earlier, while Core FFO per share was $4.17, compared with $4.28.
The self-storage REIT raised its 2026 outlook, with Core FFO per share guidance now at $16.75 to $17.05. Public Storage also reported major portfolio and financing activity, including its agreement to acquire Public Storage Canada for US$1.2 billion and the post-quarter close of its merger with National Storage Affiliates.
- Quarter ended June 30, 2026, total revenues were $1.23 billion, compared with $1.20 billion a year earlier.
- Net income was $502.9 million, compared with $361.4 million in the second quarter of 2025.
- Same Store revenues decreased 0.6% in the quarter, while Same Store net operating income decreased 2.2%.
- The company acquired 20 self-storage facilities with 1.5 million net rentable square feet for $222.5 million during the quarter.
- Public Storage entered into an agreement to acquire Public Storage Canada for US$1.2 billion, covering 68 properties and 5.3 million square feet.
- Subsequent to quarter-end, Public Storage closed its all-stock merger with National Storage Affiliates, bringing its portfolio to more than 4,500 locations and over 327 million square feet under the Public Storage brand.
