Public Storage (PSA) Q3 FFO and Revenues Top Estimates

Core Insights - Public Storage (PSA) reported quarterly funds from operations (FFO) of $4.31 per share, exceeding the Zacks Consensus Estimate of $4.24 per share, and up from $4.20 per share a year ago, indicating a surprise of +1.65% [1] - The company achieved revenues of $1.22 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.22%, compared to $1.19 billion in the same quarter last year [2] - Public Storage has outperformed consensus FFO estimates three times over the last four quarters, indicating a positive trend in financial performance [2] Financial Performance - The FFO for the previous quarter was $4.28 per share, which was also above the expected $4.23, resulting in a surprise of +1.18% [1] - The current consensus FFO estimate for the upcoming quarter is $4.23 on revenues of $1.21 billion, while the estimate for the current fiscal year is $16.85 on revenues of $4.8 billion [7] Market Position - Public Storage shares have underperformed the market with a decline of about 0.5% since the beginning of the year, contrasting with the S&P 500's gain of 17.2% [3] - The Zacks Industry Rank for REIT and Equity Trust - Other is in the top 35% of over 250 Zacks industries, suggesting a favorable industry outlook [8] Future Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and the trends in estimate revisions [3][4] - The estimate revisions trend for Public Storage was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6]