Key Takeaways PSA will report Q4 results on Feb. 12, with consensus seeing higher revenues and flat core FFO per share.Public Storage benefits from a strong brand, scale and dense metro presence that support revenue growth.PSA's Q4 revenues are estimated at $1.21B, with self-storage and ancillary operations rising.Public Storage (PSA) is slated to release fourth-quarter 2025 results on Feb. 12, after market close. The quarterly results are expected to reflect an increase in revenues and no change in core fu ...

Core Viewpoint - Public Storage (PSA) is experiencing a transition characterized by soft near-term organic growth, while long-term fundamentals and platform advantages remain intact [1] Financial Performance - Margins are still high, indicating strong profitability [1] - The balance sheet remains robust, suggesting financial stability [1] - Dividends are well-maintained, reflecting a commitment to returning value to shareholders [1]

Core Viewpoint - Extra Space Storage Inc. announced the tax allocations for its 2025 dividend distributions, providing detailed information on the classification of these distributions for shareholders [1][2]. Group 1: Dividend Distribution Details - The total distribution per share for each dividend payment in 2025 is $1.620000, with a total distribution of $6.480000 for the year [1]. - The breakdown of the dividend per share includes: - Ordinary Income: $1.388329 - Qualified Dividend: $0.129181 - Capital Gain Distribution: $0.231671 - Unrecaptured Section 1250 Gain: $0.053724 - Section 199A Dividend: $1.259148 [1]. - For the total capital gain distribution, 76.38% is excluded under Treas. Reg. §1.1061-4(b)(7), while 23.62% is classified as a Three Year Amount under Treas. Reg. §1.1061-6(c) [1]. Group 2: Company Overview - Extra Space Storage Inc. is a self-administered and self-managed REIT, and a member of the S&P 500, headquartered in Salt Lake City, Utah [3]. - As of September 30, 2025, the company owned and/or operated 4,238 self-storage stores across 43 states and Washington, D.C., comprising approximately 2.9 million units and 326.9 million square feet of rentable space [3]. - The company is recognized as the largest operator of self-storage properties in the United States, offering a variety of storage solutions including boat, RV, and business storage [3].

Company Overview - CubeSmart is a self-administered and self-managed real estate investment trust (REIT) that owns or manages 1,514 self-storage properties across the United States, making it one of the top three owners and operators in the U.S. self-storage market [3]. Financial Distributions - CubeSmart announced its 2025 distributions for common shares, with a total distribution of $2.08 per share for the year. Each quarterly distribution is $0.52, with the breakdown as follows: - January 2, 2025: Payable on January 16, 2025 - April 1, 2025: Payable on April 15, 2025 - July 1, 2025: Payable on July 15, 2025 - October 1, 2025: Payable on October 15, 2025 - The total ordinary capital gain reported is $1.836104 per share, with additional amounts allocated for 199A dividends [1][2]. Mission and Services - The company's mission is to simplify the organizational and logistical challenges faced by customers due to various life events and business needs through innovative solutions, unparalleled service, and genuine care. CubeSmart's self-storage properties are designed to provide affordable, easily accessible, and climate-controlled storage space for both residential and commercial customers [4].

Company Overview - Extra Space Storage Inc. (EXR) has a market cap of $31.6 billion and is the largest operator of self-storage properties in the U.S., owning and/or operating 4,238 stores across 43 states and Washington, D.C. as of September 30, 2025 [1] Financial Performance - Analysts project EXR to post a core FFO of $2.04 per share for fiscal Q4 2025, a slight increase from $2.03 per share in the same quarter last year [2] - For fiscal 2025, core FFO is expected to be $8.16 per share, reflecting a decrease of 10.5% from $9.12 per share in fiscal 2024, but is anticipated to rise to $8.38 per share in fiscal 2026, a year-over-year increase of 2.7% [3] Stock Performance - Over the past 52 weeks, shares of Extra Space Storage have decreased by 1.8%, underperforming the S&P 500 Index, which gained 16.9%, and the State Street Real Estate Select Sector SPDR ETF, which returned 2.7% [4] - Despite reporting a better-than-expected Q3 2025 core FFO of $2.08 per share, shares fell by 4.9% the following day due to missing revenue expectations, with quarterly revenue reported at $858.46 million and net income down 14.3% year-over-year to $0.78 per share [5] Analyst Sentiment - The consensus view among analysts on EXR stock is cautiously optimistic, with a "Moderate Buy" rating. Out of 20 analysts, six recommend a "Strong Buy" and 14 suggest a "Hold." The average price target for the stock is $151.06, indicating a potential upside of 1.5% from current levels [6]

Core Viewpoint - Public Storage (PSA) is a leading self-storage REIT with a market cap of $51.6 billion, operating 3,399 facilities across 40 states, and is set to announce its fiscal fourth-quarter earnings for 2025 soon [1]. Financial Performance - Analysts anticipate PSA will report a Funds From Operations (FFO) of $4.23 per share for the upcoming quarter, a slight increase from $4.21 per share in the same quarter last year [2]. - For the full fiscal year, the expected FFO per share is $16.90, reflecting a 1.4% increase from $16.67 in fiscal 2024, with projections of $17.24 per share in fiscal 2026, marking a 2% year-over-year rise [3]. Stock Performance - PSA's stock has underperformed the S&P 500 Index, which gained 16.9% over the past 52 weeks, with PSA shares declining by 1.3% during the same period [4]. - The underperformance is attributed to weak industry demand, decreasing move-in rental rates, and rising operating costs amid economic uncertainties and a sluggish housing market [5]. Recent Earnings Report - On October 29, 2025, PSA shares fell by 3% after reporting Q3 results, with an FFO of $4.31 per share, exceeding Wall Street's expectation of $4.24 per share, and revenue of $1.22 billion, surpassing forecasts of $1.21 billion [6]. Analyst Ratings - The consensus opinion on PSA stock is moderately bullish, with a "Moderate Buy" rating. Out of 21 analysts, 11 recommend a "Strong Buy," while 10 suggest a "Hold." The average price target is $311, indicating a potential upside of 5.8% from current levels [7].

Core Viewpoint - U-Haul Holding Company, the parent of U-Haul International, will participate in the KeyBanc Capital Markets Self-Storage Investor Forum on January 8, 2026, in New York City [1] Company Overview - U-Haul Holding Company is the parent company of U-Haul International, Oxford Life Insurance Company, Repwest Insurance Company, and Amerco Real Estate Company [1]

Core Viewpoint - SmartStop Self Storage REIT, Inc. will be represented by its Founder, Chairman, and CEO, H. Michael Schwartz, at the upcoming KeyBanc Self Storage Investor Forum scheduled for January 8, 2026 [1] Company Information - SmartStop Self Storage REIT, Inc. is an internally managed real estate investment trust [1] - The company is recognized as a premier owner and operator of self-storage facilities across the United States and Canada [1] Event Details - The eighth annual KeyBanc Self Storage Investor Forum will take place at the Westin New York Grand Central in New York [1]

Core Insights - Extra Space Storage Inc. has promoted Noah Springer to President, effective January 5, 2026, expanding his responsibilities to include the Company's operations function [1][2] Company Overview - Extra Space Storage Inc. is a fully integrated, self-administered, and self-managed real estate investment trust (REIT) and a member of the S&P 500 [4] - As of September 30, 2025, the Company owned and/or operated 4,238 self-storage properties, comprising approximately 2.9 million units and about 326.9 million square feet of rentable storage space [4] - The Company is the largest operator of self-storage properties in the United States, offering a wide selection of secure storage units, including boat, RV, and business storage [4] Leadership and Management - Noah Springer has been with Extra Space Storage since 2006, contributing significantly to the Company's strategy, growth, and culture [2] - He has held various roles in acquisitions, asset management, and third-party management, and has been a member of the senior management team since 2014 and the executive team since 2020 [2] - Under his leadership, the Company's third-party management platform, Management Plus, has become the largest in the storage sector, with over 1,800 locations [2] Upcoming Events - The Extra Space Storage team, including CEO Joe Margolis and Noah Springer, will present at the KeyBanc Capital Markets Self Storage Investor Forum in New York on January 8, 2026 [3]

Core Viewpoint - SmartStop Self Storage REIT, Inc. has announced the acquisition of a 1.78-acre land parcel in Toronto for the development of a Class A self-storage facility, in partnership with SmartCentres, highlighting its commitment to growth in urban markets with strong demand [1][5]. Group 1: Acquisition Details - The site is located at 1125 Finch Ave, approximately nine miles north of downtown Toronto, in a densely populated area with an estimated 1 million residents within a five-mile radius [2]. - The development will consist of a four-story self-storage facility totaling approximately 100,000 net rentable square feet, featuring around 1,100 climate-controlled units [3]. Group 2: Market Context - The area is characterized by strong absorption rates, constrained land availability, and high replacement costs, indicating durable long-term demand for self-storage facilities [3]. - The facility will serve established neighborhoods, further solidifying SmartStop's position in the Greater Toronto Area [4]. Group 3: Strategic Intent - The acquisition reflects SmartStop's strategy of disciplined growth in supply-constrained urban markets with favorable demographic trends, aiming to capture long-term value in a high-growth market [5].