Analyst Consensus ?
ConsensusHold26 ratings
Bullish934.6%
Neutral1453.9%
Bearish311.5%
1 unmapped firm rating excluded from the percentages.
Public Storage · PSA-PO · FY2026 Q1 · Calendar Q2 2026
Public Storage maintains guidance as PSNext and acquisitions support growth
The quarter supports a constructive operating thesis: management described resilient demand and multiple growth levers, while maintained guidance and the stated risks indicate that execution, regional conditions, and the expected slowdown in growth remain important tests.
Reported Session unavailableNYSEReal Estate
$57.14B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.71
Consensus $2.36
EPS surprise
+14.8%
Reported versus consensus
Reported revenue
$1.22B
Consensus $1.21B
Revenue surprise
+0.4%
Reported versus consensus
Market reaction
unavailable
Stock move
—
Event window
SPY move
—
Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
—
Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about PSA-PO FY2026 Q1
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How did the market react to PSA-PO FY2026 Q1 earnings, and why?What changed in PSA-PO's guidance and outlook in FY2026 Q1?Give me the bull and bear case for PSA-PO after FY2026 Q1 earnings.
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Transcript intelligence
What changed
Compared with the prior quarter, the company moved from a broad PS 4.0 strategy and acquisition focus to execution around the NSA transaction, PSNext integration, and continued expansion of lending and development. Guidance remained maintained, but management expects revenue growth to soften later.
Guidance delta
Management maintained guidance, while noting that revenue growth is expected to soften later in the year.
Key takeaways
- PSNext remains central to pricing, efficiency, and customer-experience initiatives.
- Management highlighted the NSA transaction, acquisitions, development, and lending as growth levers.
- Operating conditions remain uneven, with softer later-period growth and regional supply pressures noted.
Management priorities
- Integrate NSA assets onto PSNext and pursue the expected operating benefits.
- Advance acquisitions and the development pipeline while targeting disciplined portfolio growth.
- Expand lending and use data-driven market selection to support the platform.
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Try FN2 freeEarnings History
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Stifel | Buy | Buy | Maintain | Sep 12, 2023 |
| Truist Securities | Buy | Buy | Maintain | Aug 28, 2023 |
| JP Morgan | Overweight | Overweight | Maintain | Jun 12, 2023 |
| Raymond James | Perform | Outperform | Downgrade | Jan 9, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 12, 2022 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 18, 2022 |
| UBS | Neutral | Neutral | Maintain | Jul 24, 2022 |
| Jefferies | Buy | Buy | Maintain | Jun 29, 2022 |
| BMO Capital | Outperform | Market Perform | Upgrade | May 18, 2022 |
| Goldman Sachs | Neutral | Neutral | Maintain | May 11, 2022 |
| Citigroup | Neutral | Neutral | Maintain | Nov 17, 2021 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Oct 17, 2021 |
| Berenberg | Hold | Hold | Maintain | Oct 7, 2021 |
| Wells Fargo | Underweight | Underweight | Maintain | Jun 1, 2021 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | May 10, 2020 |
| B of A Securities | Buy | Neutral | Upgrade | Mar 23, 2020 |
| CFRA | Sell | Hold | Downgrade | Feb 27, 2020 |
| Argus Research | Buy | Buy | Maintain | Dec 1, 2019 |
| Baird | Neutral | Underperform | Upgrade | Aug 20, 2019 |
| Keybanc | Underweight | Upgrade | Jun 10, 2019 | |
| Barclays | Underweight | Equal Weight | Downgrade | Mar 25, 2019 |
| Cantor Fitzgerald | Hold | Buy | Downgrade | Jun 18, 2015 |
| RBC Capital | Sector Perform | Underperform | Upgrade | Aug 18, 2013 |
| Imperial Capital | In Line | In Line | Maintain | Feb 24, 2013 |
| Deutsche Bank | Hold | Hold | Maintain | Jan 8, 2013 |
| ISI Group | Hold | Hold | Maintain | Aug 2, 2012 |
| Credit Suisse | Outperform | Neutral | Upgrade | Mar 14, 2012 |
Track every rating change on PSA-PO the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPublic Storage, a prominent Real Estate Investment Trust (REIT) and member of both the S&P 500 and FT Global 500 indices, primarily engages in the acquisition, development, ownership, and operation of self-storage facilities. As of September 30, 2020, its extensive holdings included: (i) 2,504 self-storage properties spread across 38 U.S. states, encompassing roughly 171 million net rentable square feet; (ii) an approximate 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR), which operates 239 self-storage facilities under the "Shurgard" brand across seven Western European nations, accounting for about 13 million net rentable square feet; and (iii) a roughly 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), an entity that owned and managed approximately 28 million rentable square feet of commercial space. The company's corporate headquarters are located in Glendale, California.
Historical context
All PSA-PO earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| GLPI Gaming and Leisure Properties, Inc. | FY2026 Q3 · Calendar Q4 2026 | -11.5% | -1.3% | GLPI Keeps Guidance, Advances Development Despite Bally’s Risks |
| FRT Federal Realty Investment Trust | FY2026 Q3 · Calendar Q4 2026 | +3.9% | -1.1% | Federal Realty raises 2026 FFO outlook as leasing stays strong |
| WY Weyerhaeuser Company | FY2026 Q3 · Calendar Q4 2026 | +128.3% | +3.0% | Weyerhaeuser: Timberlands Strengthen as Growth Projects Advance |
| DLR-PL Digital Realty Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.4% | — | Digital Realty raises guidance as AI demand lifts leasing and backlog |
| DLR-PK Digital Realty Trust, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.4% | — | Digital Realty Q3: Record Leasing and Higher FFO Guidance |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the PSA-PO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.