Public Storage (PSA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Public Storage (PSA) reported revenue of $1.22 billion for the quarter ended September 2025, reflecting a 3.1% increase year-over-year and a surprise of +1.22% over the Zacks Consensus Estimate of $1.21 billion [1] - Earnings per share (EPS) for the quarter was $4.31, significantly up from $2.16 in the same quarter last year, with an EPS surprise of +1.65% compared to the consensus estimate of $4.24 [1] Financial Performance Metrics - Square foot occupancy was reported at 90.7%, which is below the average estimate of 92.2% from three analysts [4] - Annual contract rent per occupied square foot was $22.88 million, exceeding the two-analyst average estimate of $22.41 million [4] - Revenues from ancillary operations reached $85.21 million, surpassing the four-analyst average estimate of $82.33 million, marking a year-over-year increase of +9.7% [4] - Revenues from self-storage facilities amounted to $1.14 billion, slightly above the estimated $1.12 billion from four analysts, representing a +2.6% change compared to the previous year [4] - Net earnings per share (diluted) were reported at $2.62, exceeding the four-analyst average estimate of $2.54 [4] Stock Performance - Over the past month, shares of Public Storage have returned +3.2%, compared to a +3.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]